Jefferies took its Newell Brands Inc. [NWL] rating to the equivalent of a Buy from a Hold, and the price target to $28 from $18, in a research note dated January 04, 2021. That figure represents around a 31.89% premium from where the company’s shares closed on Thursday. Meanwhile, Wells Fargo had launched its coverage on NWL with “an Underweight”, in a research note produced for clients December 08, 2020. In addition, there was a downgrade from Consumer Edge Research on November 11, 2019. The rater changed NWL from “an Equal weight” to “an Underweight”.
Is Newell Brands Inc. [NASDAQ:NWL] a Good Buy Right Now?
It should be noted that NWL technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Newell Brands Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 2.99 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 2.94 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 2.7 million shares.
NWL Price Performance
On Wall Street, Newell Brands Inc. [NASDAQ:NWL] finished Thursday’s session up 0.71% at $21.23. The stock went up to $21.31 at the same session while its lowest single day price was $20.95. In the last five days, it saw a fall of about 0.00%, Newell Brands Inc. shares gained by almost 10.46% since the beginning of the year. However, the share price has dropped to as low as -3.89% below its one year high. On 12/04/20, the company shares recorded $22.09, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/23/20, the same year at $10.44. The company’s shares have inclined by 11.27% in the past year. The 50-day SMA achieved is $20.00 while the 200-day SMA is $16.47. Volume gained to 1.81 million from 1.67 million in the previous session.
NWL Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 21.02 level, and in case of violation of this particular level, it will cause more drop to 20.80 level. On the upper level, 21.52 is still the key resistance. The stock may increase to the subsequent resistance at 21.38. The Relative Strength Index (RSI) pinned on the 14-day chart is 59.09, implying a neutral technical stance while the MACD stands at 0.36, meaning price will decrease in the next trading period. Percent R indicator moved to 13.33%, implying bullish price movement. Stochastic %K at 78.59% suggest selling the stock.
What is the short interest in Newell Brands Inc.?
Short interest in the Newell Brands Inc. stock has plunged, decreasing by -0.42 million shares to total 8.74 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 8.32 million, data from Yahoo Finance shows. The increase of 4.81% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 3.07% of the overall float for the stock.
Newell Brands Inc.’s Biggest Shareholders: Who Owns Newell Brands Inc. [NWL]?
Filings by Icahn Associates Holding LLC showed that the firm now holds a total of 43,704,616 shares or roughly 10.30% of the outstanding NWL shares. This means their shares have reduced by 0 from the 43,704,616 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $914,122,768. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -2.63% stake valued at $535,334,262 while Pzena Investment Management LLC added theirs at $527,007,379. During the last quarter, BlackRock Fund Advisors liquidated -681,396 of its shares in Newell Brands Inc. while Pzena Investment Management LLC bought 556,763 shares. The SSgA Funds Management, Inc.’s holdings currently number 19,642,845 shares at $417017599.35. According to the firm’s last 13F report, JPMorgan Investment Management, I shares in the company at filing stood at 15,871,285 shares, roughly $337,423,519.
NWL Earnings Forecast For The Current Quarter
Newell Brands Inc. [NWL] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $2.61B and an earnings per share of $0.46 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.97B at an EPS of $0.12 for Mar 2021. The estimates represent downside of 4.10% and -0.84% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
NWL Earnings Estimates For The Current Year
For the financial year, Newell Brands Inc. [NASDAQ:NWL] is expected to bring in revenue of $9.29B. The returns are nearly $-420.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.66, lower than that of FY19 by -$0.04. Estimates put this year’s earnings growth at -2.40%, -1.20% for the next, and at an annual 5.24% over the next 5-year period. As for sales, forecasts are for a decrease of -4.30% in the current fiscal year and a further 4.10% over the following year.