NWL - Newell Brands bounces off its recent 52-week low

2023-06-27 11:48:36 ET

Newell Brands ( NASDAQ: NWL ) rose 7.20% in late morning trading on Tuesday as the consumer products stock bounced off its recent 52-week low.

The Atlanta-based company rattled investors when it issued soft guidance for Q2 in late April and then dramatically lowered its dividend payout in May. Those developments contributed to a more than 25% drop for NWL shares during April and May,

Weighing in on the beat-up stock earlier in June, Seeking Alpha Investing Group Leader The Insiders Forum called Newell Brands ( NWL ) a potential turnaround story.

"Newell's operating cash flows are stronger in the second half of the year with seasonality of sales, timing of performance-based compensation payments, working capital requirements, and customer credit terms all impacting the metric - and at some point, forex headwinds will abate."

Short interest on Newell Brands ( NWL ) stands at 7.86% of total float. Even after the sharp dividend payout cut, the yield is 3.41% for new buyers of the stock.

More on Newell Brands:

• Growth metrics on Newell Brands
• Seeking Alpha Quant Rating on Newell Brands
• Recent options trades on Newell Brands

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