Home Analyst Ratings Jefferies raises Newell Brands Inc. ’s rating to Buy and price target...

Jefferies raises Newell Brands Inc. [NWL]’s rating to Buy and price target to $28

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”.

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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.‎‎


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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.‎‎

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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.‎

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