Newell Brands Inc. (NYSE:NWL) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 23,764,792 shares, an increase of 16.4% from the November 15th total of 20,420,164 shares. Approximately 4.9% of the company’s stock are sold short. Based on an average daily trading volume, of 7,915,135 shares, the days-to-cover ratio is presently 3.0 days.
NWL has been the subject of a number of recent research reports. Raymond James Financial restated a “market perform” rating on shares of Newell Brands in a research note on Friday, November 3rd. Jefferies Group reissued a “hold” rating and set a $47.00 price objective on shares of Newell Brands in a report on Thursday, October 19th. Morgan Stanley decreased their price objective on shares of Newell Brands from $54.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Forward View reaffirmed a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a research note on Sunday, November 5th. Finally, Barclays reaffirmed a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $45.20.
In related news, CEO Michael B. Polk acquired 7,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the purchase, the chief executive officer now owns 616,296 shares in the company, valued at $17,391,873.12. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.
Newell Brands (NWL) traded up $0.76 during mid-day trading on Thursday, reaching $31.91. 3,356,910 shares of the company’s stock were exchanged, compared to its average volume of 4,291,839. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46. Newell Brands has a 1 year low of $27.45 and a 1 year high of $55.08. The company has a market capitalization of $15,610.00, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.22 and a beta of 1.10.
Newell Brands (NYSE:NWL) last announced its earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.71 billion. Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. research analysts expect that Newell Brands will post 2.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.88%. The ex-dividend date was Wednesday, November 29th. Newell Brands’s payout ratio is 35.52%.
Newell Brands declared that its Board of Directors has approved a stock buyback program on Tuesday, September 26th that allows the company to buyback $256.00 million in shares. This buyback authorization allows the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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