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RBC Capital Reaffirms Their Hold Rating on Newell Brands (NWL)

RBC Capital analyst Nik Modi maintained a Hold rating on Newell Brands (NWLResearch Report) on February 8 and set a price target of $23.00. The company’s shares closed last Thursday at $21.96, close to its 52-week low of $20.36.

According to TipRanks.com, Modi is a 5-star analyst with an average return of 13.0% and a 68.5% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Reynolds Consumer Products, and Spectrum Brands Holdings.

Newell Brands has an analyst consensus of Hold, with a price target consensus of $27.75.

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Based on Newell Brands’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.79 billion and net profit of $190 million. In comparison, last year the company earned revenue of $2.7 billion and had a net profit of $304 million.

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Newell Brands, Inc. engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Food and Appliances; Home and Outdoor Living; and Learning and Development. The Food and Appliances segment includes household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products and fresh preserving products. The Home and Outdoor Living segment consists of products for outdoor and outdoor-related activities, home fragrance products and connected home and security. The Learning and Development segment deals with writing instruments, including markers and highlighters, pens and pencils; art products; activity-based adhesive and cutting products; labeling solutions; baby gear and infant care products. The company was founded in 1903 and is headquartered in Hoboken, NJ.

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