During the last session, Newell Brands Inc (NASDAQ:NWL)’s traded shares were 54.19 million, with the beta value of the company hitting 0.94. At the end of the trading day, the stock’s price was $8.18, reflecting an intraday gain of 5.96% or $0.46. The 52-week high for the NWL share is $12.75, that puts it down -55.87 from that peak though still a striking 20.66% gain since the share price plummeted to a 52-week low of $6.49. The company’s market capitalization is $3.39B, and the average intraday trading volume over the past 10 days was 4.17 million shares, and the average trade volume was 4.74 million shares over the past three months.
Newell Brands Inc (NASDAQ:NWL) trade information
Newell Brands Inc (NWL) registered a 5.96% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.96% in intraday trading to $8.18, hitting a weekly high. The stock’s 5-day price performance is 4.07%, and it has moved by 7.49% in 30 days. Based on these gigs, the overall price performance for the year is -32.95%. The short interest in Newell Brands Inc (NASDAQ:NWL) is 16.54 million shares and it means that shorts have 2.73 day(s) to cover.
Newell Brands Inc (NWL) estimates and forecasts
Statistics show that Newell Brands Inc has underperformed its competitors in share price, compared to the industry in which it operates. Newell Brands Inc (NWL) shares have gone down -15.84% during the last six months, with a year-to-date growth rate less than the industry average at -27.85% against 7.00. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -16.70% this quarter and then jump 4.20% in the quarter after that. In the rating firms’ projections, revenue will decrease -6.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.64 billion as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $2.03 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.79 billion and $2.2 billion respectively. In this case, analysts expect current quarter sales to shrink by -8.20% and then drop by -7.80% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 43.59%. While earnings are projected to return -27.39% in 2024, the next five years will return -4.76% per annum.
NWL Dividends
Newell Brands Inc is due to release its next quarterly earnings between April 26 and April 30. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Newell Brands Inc is 0.28, with the dividend yield indicating at 3.42 percent, continuing the trend of increasing dividends in recent years.
Newell Brands Inc (NASDAQ:NWL)’s Major holders
Newell Brands Inc insiders own 0.32% of total outstanding shares while institutional holders control 95.22%, with the float percentage being 95.53%. Pzena Investment Management Llc is the largest shareholder of the company, while 598 institutions own stock in it. As of Jun 29, 2023, the company held over 52.42 million shares (or 12.40% of all shares), a total value of $456.08 million in shares.
The next largest institutional holding, with 44.08 million shares, is of Vanguard Group Inc’s that is approximately 10.43% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $383.5 million.
Also, the Mutual Funds coming in first place with the largest holdings of Newell Brands Inc (NWL) shares are iShares Core S&P Smallcap ETF and Vanguard/Windsor Fund Inc.. Data provided on Sep 29, 2023 indicates that iShares Core S&P Smallcap ETF owns about 25.73 million shares. This amounts to just over 6.09 percent of the company’s overall shares, with a $232.33 million market value. The same data shows that the other fund manager holds slightly less at 11.87 million, or about 2.81% of the stock, which is worth about $132.43 million.
