Newell Brands (NASDAQ:NWL) Stock Price Up 8.5% Following Earnings Beat

Newell Brands Inc. (NASDAQ:NWL) shares rose 8.5% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $5.25 and last traded at $5.19. Approximately 3,950,085 shares were traded during trading, a decline of 42% from the average daily volume of 6,809,745 shares. The stock had previously closed at $4.78.

The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.06. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Newell Brands’s quarterly revenue was down 5.3% compared to the same quarter last year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.42%. Newell Brands’s dividend payout ratio is presently -53.85%.

Analyst Ratings Changes

NWL has been the subject of a number of research analyst reports. Truist Financial dropped their price target on Newell Brands from $17.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Citigroup reduced their price target on Newell Brands from $7.75 to $4.75 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Barclays boosted their target price on shares of Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on shares of Newell Brands from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company dropped their price objective on Newell Brands from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.64.

Institutional Trading of Newell Brands

Several large investors have recently added to or reduced their stakes in NWL. Castlekeep Investment Advisors LLC bought a new position in Newell Brands in the 4th quarter valued at about $33,000. Farther Finance Advisors LLC boosted its holdings in shares of Newell Brands by 212.6% in the first quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company’s stock valued at $38,000 after acquiring an additional 4,169 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Newell Brands during the fourth quarter valued at approximately $46,000. NBC Securities Inc. raised its holdings in Newell Brands by 146,542.9% during the first quarter. NBC Securities Inc. now owns 10,265 shares of the company’s stock worth $63,000 after purchasing an additional 10,258 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Newell Brands by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock worth $79,000 after purchasing an additional 4,617 shares during the period. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Trading Up 8.2 %

The stock has a market capitalization of $2.16 billion, a P/E ratio of -9.94, a price-to-earnings-growth ratio of 0.95 and a beta of 0.84. The business has a 50 day simple moving average of $5.76 and a 200-day simple moving average of $8.06. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14.

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.