Newell Brands (NASDAQ:NWL) Releases Earnings Results, Beats Expectations By $0.05 EPS

Newell Brands (NASDAQ:NWLGet Free Report) posted its quarterly earnings results on Friday. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05, MarketWatch Earnings reports. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share.

Newell Brands Stock Down 18.9 %

NWL stock opened at $6.85 on Monday. Newell Brands has a 12 month low of $6.49 and a 12 month high of $15.60. The company’s 50 day simple moving average is $8.44 and its 200-day simple moving average is $8.61. The firm has a market capitalization of $2.84 billion, a PE ratio of -7.21 and a beta of 0.94. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.16 and a quick ratio of 0.63.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NWL shares. TheStreet cut shares of Newell Brands from a “c-” rating to a “d” rating in a report on Friday, October 27th. Barclays increased their target price on shares of Newell Brands from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, January 16th. Morgan Stanley dropped their target price on shares of Newell Brands from $11.00 to $8.50 and set an “equal weight” rating for the company in a report on Tuesday, October 31st. Royal Bank of Canada dropped their target price on shares of Newell Brands from $12.00 to $9.00 and set a “sector perform” rating for the company in a report on Monday, October 30th. Finally, Truist Financial cut shares of Newell Brands from a “buy” rating to a “hold” rating and dropped their target price for the company from $20.00 to $8.00 in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.55.

Read Our Latest Analysis on NWL

Institutional Trading of Newell Brands

Hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in Newell Brands during the first quarter worth approximately $26,000. Resources Management Corp CT ADV boosted its position in Newell Brands by 6,000.0% during the second quarter. Resources Management Corp CT ADV now owns 3,050 shares of the company’s stock worth $27,000 after acquiring an additional 3,000 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Newell Brands by 711.7% during the first quarter. Canada Pension Plan Investment Board now owns 4,107 shares of the company’s stock worth $88,000 after acquiring an additional 3,601 shares during the last quarter. Covestor Ltd boosted its position in Newell Brands by 195.8% during the first quarter. Covestor Ltd now owns 6,900 shares of the company’s stock worth $148,000 after acquiring an additional 4,567 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in shares of Newell Brands by 629.5% in the 1st quarter. Belpointe Asset Management LLC now owns 7,244 shares of the company’s stock valued at $90,000 after purchasing an additional 6,251 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Newell Brands Company Profile

(Get Free Report)

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

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Earnings History for Newell Brands (NASDAQ:NWL)

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