Newell Brands (NWL) stock plummeted 5.29% during intraday trading on Monday, following disappointing third-quarter results and a wave of analyst downgrades. The consumer goods company, known for brands such as Rubbermaid and Sharpie, reported earnings that fell short of Wall Street expectations and lowered its full-year guidance, sparking concerns about its near-term outlook.

The company's Q3 adjusted earnings per share came in at 17 cents, slightly below the anticipated 18 cents. Revenue for the quarter was $1.81 billion, missing analysts' estimates of $1.88 billion and representing a 7.2% decline compared to the same period last year. In response to softer-than-expected demand trends, Newell Brands revised its full-year 2025 guidance downward, now projecting adjusted EPS between 56 and 60 cents, down from the previous forecast of 66 to 70 cents.

Following the earnings report, several prominent financial institutions cut their price targets for Newell Brands. Morgan Stanley lowered its target to $4.25 from $5.25, Deutsche Bank reduced its target to $4 from $6, and RBC Capital slashed its target to $4.50 from $8. Citi went even further, dropping its price target to $3.50 from $5.50. These downgrades reflect growing pessimism about Newell's ability to navigate the challenging economic environment and reverse its declining sales trends in the near future.