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

Shares of Newell Brands Inc. (NASDAQ:NWL) gapped up before the market opened on Wednesday . The stock had previously closed at $8.82, but opened at $9.19. Newell Brands shares last traded at $9.07, with a volume of 615,571 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada increased their price target on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a 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 research note on Tuesday, July 30th. Wells Fargo & Company boosted their target price on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $8.00 to $10.00 in a report on Wednesday. Finally, Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.10.

Newell Brands Trading Up 1.1 %

The company has a market capitalization of $3.72 billion, a P/E ratio of -14.90, a price-to-earnings-growth ratio of 0.82 and a beta of 0.89. The business has a fifty day moving average price of $8.08 and a 200 day moving average price of $7.54. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last announced 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. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, analysts expect that Newell Brands Inc. will post 0.66 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s payout ratio is -46.67%.

Insider Activity

In related news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the transaction, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

Large investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in shares of Newell Brands in the second quarter worth about $26,000. Gradient Investments LLC purchased a new stake in shares of Newell Brands in the second quarter worth $46,000. Quarry LP grew its holdings in shares of Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after buying an additional 4,056 shares during the last quarter. Innealta Capital LLC bought a new position in Newell Brands during the 2nd quarter valued at about $58,000. Finally, Venturi Wealth Management LLC purchased a new stake in Newell Brands during the 3rd quarter valued at $70,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Company Profile

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.