Newell Brands (NASDAQ:NWL) Shares Up 8.5% After Earnings Beat

Shares of Newell Brands Inc. (NASDAQ:NWL) were up 8.5% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $5.25 and last traded at $5.19. Approximately 3,950,085 shares changed hands 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.06. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.28 annualized dividend and a yield of 5.33%. Newell Brands’s dividend payout ratio (DPR) is -53.85%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NWL shares. JPMorgan Chase & Co. dropped their price target on shares of Newell Brands from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. UBS Group dropped their target price on shares of Newell Brands from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Thursday. Truist Financial decreased their price target on Newell Brands from $17.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company decreased their target price on Newell Brands from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Canaccord Genuity Group lowered their price target on Newell Brands from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Newell Brands has an average rating of “Hold” and an average target price of $7.42.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bailard Inc. purchased a new position in Newell Brands in the first quarter valued at about $382,000. Massachusetts Financial Services Co. MA grew its holdings in Newell Brands by 25.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,846,692 shares of the company’s stock worth $129,249,000 after purchasing an additional 4,273,541 shares during the last quarter. MQS Management LLC acquired a new position in shares of Newell Brands during the first quarter worth $89,000. CWM LLC lifted its holdings in shares of Newell Brands by 196.8% during the 1st quarter. CWM LLC now owns 250,386 shares of the company’s stock valued at $1,552,000 after purchasing an additional 166,012 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Newell Brands by 21.2% in the 1st quarter. Xponance Inc. now owns 24,055 shares of the company’s stock worth $149,000 after purchasing an additional 4,204 shares in the last quarter. 92.50% of the stock is owned by institutional investors.

Newell Brands Trading Up 1.5 %

The company has a 50 day moving average of $5.73 and a two-hundred day moving average of $8.04. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The stock has a market capitalization of $2.19 billion, a PE ratio of -10.10, a P/E/G ratio of 0.95 and a beta of 0.84.

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.