Newell Brands (NASDAQ:NWL) Shares Gap Up – Time to Buy?

Shares of Newell Brands Inc. (NASDAQ:NWL) gapped up before the market opened 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

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on 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 upped their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Canaccord Genuity Group raised their target price on shares of Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Truist Financial boosted their target price on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their price target 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Newell Brands has an average rating of “Hold” and an average price target of $8.80.

Newell Brands Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 1.32. The firm has a market cap of $3.69 billion, a PE ratio of -13.75, a P/E/G ratio of 1.31 and a beta of 0.91. The stock’s 50 day moving average price is $7.41 and its 200 day moving average price is $7.31.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. As a group, equities analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s dividend payout ratio (DPR) is presently -43.08%.

Institutional Trading of Newell Brands

Several large investors have recently bought and sold shares of the company. Centaurus Financial Inc. boosted its stake 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 valued at $203,000 after purchasing an additional 1,762 shares during the period. Arizona State Retirement System grew its stake in shares of Newell Brands by 2.1% during the second quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock valued at $745,000 after acquiring an additional 2,394 shares in the last quarter. Tidal Investments LLC increased its position in shares of Newell Brands by 3.0% during the first quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock worth $671,000 after acquiring an additional 2,407 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of Newell Brands by 9.9% in the second quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock worth $177,000 after acquiring an additional 2,490 shares in the last quarter. Finally, Xcel Wealth Management LLC boosted its holdings in Newell Brands by 8.3% in the second quarter. Xcel Wealth Management LLC now owns 32,773 shares of the company’s stock valued at $210,000 after purchasing an additional 2,500 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.