Newell Brands (NASDAQ:NWL) Shares Gap Up - Here's Why

Newell Brands Inc. (NASDAQ:NWL - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $7.18, but opened at $8.68. Newell Brands shares last traded at $8.76, with a volume of 5,049,929 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Newell Brands from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. Wells Fargo & Company boosted their price objective on shares of Newell Brands from $6.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company a "hold" rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their target price on shares of Newell Brands from $7.50 to $9.50 and gave the stock a "sector perform" rating in a report on Monday, July 29th. Finally, Citigroup cut shares of Newell Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.80.

Newell Brands Price Performance

The company has a market cap of $3.63 billion, a P/E ratio of -13.66, a P/E/G ratio of 1.31 and a beta of 0.91. The stock has a 50-day simple moving average of $7.41 and a 200 day simple moving average of $7.31. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. The business's revenue was down 2.6% compared to the same quarter last year. On average, equities analysts expect that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Friday, August 30th. Newell Brands's dividend payout ratio is -43.08%.

Institutional Trading of Newell Brands

Institutional investors have recently bought and sold shares of the stock. Rothschild Investment LLC acquired a new position in Newell Brands in the second quarter worth $26,000. Gradient Investments LLC acquired a new stake in shares of Newell Brands in the second quarter valued at approximately $46,000. Quarry LP raised its position in Newell Brands by 104.4% in the 2nd quarter. Quarry LP now owns 7,941 shares of the company's stock worth $51,000 after purchasing an additional 4,056 shares during the last quarter. Innealta Capital LLC acquired a new position in Newell Brands during the 2nd quarter worth $58,000. Finally, GAMMA Investing LLC boosted its position in Newell Brands by 40.4% in the 2nd quarter. GAMMA Investing LLC now owns 11,860 shares of the company's stock valued at $76,000 after buying an additional 3,412 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company's stock.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.