Wells Fargo & Company Has Lowered Expectations for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL - Free Report) had its price objective cut by Wells Fargo & Company from $9.00 to $7.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Royal Bank of Canada cut their price target on shares of Newell Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a report on Monday, February 10th. Truist Financial raised Newell Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $10.00 to $17.00 in a report on Monday, December 9th. Canaccord Genuity Group cut their target price on Newell Brands from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, Citigroup reduced their price target on Newell Brands from $10.50 to $7.75 and set a "neutral" rating for the company in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Newell Brands presently has an average rating of "Hold" and an average price target of $10.58.

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Newell Brands Stock Performance

Shares of NASDAQ NWL traded down $0.22 during trading hours on Wednesday, reaching $4.90. The stock had a trading volume of 6,731,945 shares, compared to its average volume of 6,397,451. The firm has a 50-day moving average of $7.21 and a 200-day moving average of $8.46. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -9.41, a PEG ratio of 0.95 and a beta of 0.84. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64. Newell Brands has a fifty-two week low of $4.67 and a fifty-two week high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same quarter last year, the firm earned $0.22 EPS. Equities research analysts predict that Newell Brands will post 0.72 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.07 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.28 annualized dividend and a yield of 5.72%. Newell Brands's payout ratio is currently -53.85%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Cerity Partners LLC boosted its stake in Newell Brands by 130.9% in the 3rd quarter. Cerity Partners LLC now owns 91,723 shares of the company's stock worth $704,000 after buying an additional 51,992 shares during the last quarter. FMR LLC increased its position in Newell Brands by 21.5% during the third quarter. FMR LLC now owns 4,354,913 shares of the company's stock worth $33,446,000 after purchasing an additional 770,717 shares during the last quarter. Bridgewater Associates LP acquired a new position in Newell Brands during the third quarter worth approximately $108,000. Glenmede Trust Co. NA acquired a new position in shares of Newell Brands in the 3rd quarter valued at $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Newell Brands by 4.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,970 shares of the company's stock worth $752,000 after buying an additional 4,555 shares during the last quarter. Hedge funds and other institutional investors 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.