why Newell Brands Inc [NWL] is a Good Choice for Investors After New Price Target of $7.70

Newell Brands Inc [NASDAQ: NWL] jumped around -7.88 points on Friday, while shares priced at $8.45 at the close of the session, up 6.85%. The company report on February 9, 2024 at 7:00 AM that Newell Brands Announces Fourth Quarter and Full Year 2023 Results.

Q4 Net Sales and Core Sales Decline 9%Q4 Gross Margin and Operating Margin Improve Versus Prior YearFull Year Operating Cash Flow Increases $1.2 Billion Versus Prior YearProvides Initial Outlook for Full Year 2024.

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Newell Brands (NASDAQ: NWL) today announced its fourth quarter and full year 2023 financial results.

Compared to the average trading volume of 4.62 shares, NWL reached a trading volume of 3.86M in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Newell Brands Inc [NWL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NWL shares is $7.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NWL stock is a recommendation set at 2.85. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Newell Brands Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 30, 2023.

The Average True Range (ATR) for Newell Brands Inc is set at 0.42, with the Price to Sales ratio for NWL stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 0.80. Price to Free Cash Flow for NWL in the course of the last twelve months was 4.39 with Quick ratio for the last quarter at 0.63.

How has NWL stock performed recently?

Newell Brands Inc [NWL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.67. With this latest performance, NWL shares dropped by -22.95% in over the last four-week period, additionally sinking by -35.86% over the last 6 months – not to mention a drop of -54.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NWL stock in for the last two-week period is set at 31.30, with the RSI for the last a single of trading hit 26.45, and the three-weeks RSI is set at 35.49 for Newell Brands Inc [NWL]. The present Moving Average for the last 50 days of trading for this stock 8.39, while it was recorded at 7.87 for the last single week of trading, and 8.81 for the last 200 days.

Newell Brands Inc [NWL]: Deeper insight into the fundamentals

Newell Brands Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.63 and a Current Ratio set at 1.16.

Earnings analysis for Newell Brands Inc [NWL]

With the latest financial reports released by the company, Newell Brands Inc posted 0.16/share EPS, while the average EPS was predicted by analysts to be reported at 0.11/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 45.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NWL.

Insider trade positions for Newell Brands Inc [NWL]

The top three institutional holders of NWL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NWL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NWL stock with ownership which is approximately 5.8325%.