Canaccord Genuity Group Issues Positive Forecast for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL - Free Report) had its target price raised by Canaccord Genuity Group from $13.00 to $15.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on NWL. JPMorgan Chase & Co. dropped their target price on shares of Newell Brands from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, October 11th. Citigroup cut Newell Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 13th. Barclays raised Newell Brands from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $8.00 to $10.00 in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company raised their price objective on Newell Brands from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $9.30.

Newell Brands Price Performance

NASDAQ NWL traded up $0.38 during trading hours on Friday, reaching $10.31. 7,024,992 shares of the stock traded hands, compared to its average volume of 4,828,433. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The stock has a 50 day simple moving average of $8.52 and a two-hundred day simple moving average of $7.64. Newell Brands has a 1 year low of $5.39 and a 1 year high of $10.44. The company has a market cap of $4.29 billion, a price-to-earnings ratio of -17.18, a price-to-earnings-growth ratio of 0.93 and a beta of 0.90.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business's quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. On average, analysts predict that Newell Brands will post 0.66 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.07 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.72%. Newell Brands's payout ratio is -46.67%.

Insider Buying and Selling

In other news, insider Tracy L. Platt sold 23,343 shares of the firm's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now directly owns 230,254 shares of the company's stock, valued at $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Newell Brands

A number of hedge funds have recently made changes to their positions in NWL. CIBC Asset Management Inc grew its stake in Newell Brands by 3.5% during the third quarter. CIBC Asset Management Inc now owns 39,590 shares of the company's stock valued at $304,000 after acquiring an additional 1,345 shares in the last quarter. Centaurus Financial Inc. increased its holdings in shares of Newell Brands by 5.9% in the second quarter. Centaurus Financial Inc. now owns 31,599 shares of the company's stock worth $203,000 after purchasing an additional 1,762 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Newell Brands by 2.1% in the second quarter. Arizona State Retirement System now owns 116,226 shares of the company's stock worth $745,000 after buying an additional 2,394 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Newell Brands by 9.9% during the second quarter. Raymond James Trust N.A. now owns 27,541 shares of the company's stock valued at $177,000 after buying an additional 2,490 shares during the last quarter. Finally, Xcel Wealth Management LLC grew its holdings in Newell Brands by 8.3% during the 2nd quarter. Xcel Wealth Management LLC now owns 32,773 shares of the company's stock valued at $210,000 after buying an additional 2,500 shares in the last quarter. 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.