Newell Brands (NWL) Stock Forecast, Price Target & Predictions
NWL Stock Forecast
Newell Brands stock forecast is as follows: an average price target of $16.70 (represents a 113.28% upside from NWL’s last price of $7.83) and a rating consensus of 'Hold', based on 11 wall street analysts offering a 1-year stock forecast.
NWL Price Target
The average price target for Newell Brands (NWL) is $16.70 based on 1-year price targets from 11 Wall Street analysts in the past 3 months, with a price target range of $28.00 to $8.00. This represents a potential 113.28% upside from NWL's last price of $7.83.
NWL Analyst Ratings
According to 11 Wall Street analysts, Newell Brands's rating consensus is 'Hold'. The analyst rating breakdown for NWL stock is 0 'Strong Buy' (0.00%), 5 'Buy' (45.45%), 6 'Hold' (54.55%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Newell Brands Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Jul 29, 2024 | Bill Chappell | Truist Financial | $10.00 | $8.80 | 13.64% | 27.71% |
| Jul 29, 2024 | Steve Powers | Deutsche Bank | $9.00 | $8.91 | 1.01% | 14.94% |
| Jul 29, 2024 | Brian McNamara | Canaccord Genuity | $12.00 | $8.81 | 36.21% | 53.26% |
| May 14, 2024 | Lauren Lieberman | Barclays | $8.00 | $8.24 | -2.91% | 2.17% |
| Apr 29, 2024 | Steve Powers | Deutsche Bank | $8.00 | $8.03 | -0.31% | 2.17% |
| Apr 29, 2024 | Brian McNamara | Canaccord Genuity | $10.00 | $8.04 | 24.30% | 27.71% |
| Jan 13, 2023 | - | J.P. Morgan | $18.00 | $15.31 | 17.53% | 129.89% |
| Jan 03, 2023 | - | Wells Fargo | $13.00 | $13.41 | -3.06% | 66.03% |
| Dec 06, 2022 | - | Deutsche Bank | $15.00 | $12.63 | 18.77% | 91.57% |
| Oct 03, 2022 | - | Wells Fargo | $15.00 | $13.89 | 7.99% | 91.57% |
The latest Newell Brands stock forecast, released on Jul 29, 2024 by Bill Chappell from Truist Financial, set a price target of $10.00, which represents a 13.64% increase from the stock price at the time of the forecast ($8.80), and a 27.71% increase from NWL last price ($7.83).
Newell Brands Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 3 | 6 |
| Avg Price Target | - | $10.33 | $9.50 |
| Last Closing Price | $7.83 | $7.83 | $7.83 |
| Upside/Downside | -100.00% | 31.93% | 21.33% |
In the current month, the average price target of Newell Brands stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Newell Brands's last price of $7.83. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Jul 29, 2024 | Deutsche Bank | Hold | Hold | Hold |
| Jul 29, 2024 | Canaccord Genuity | Buy | Buy | Hold |
| Jul 29, 2024 | Wells Fargo | Equal-Weight | Equal-Weight | Hold |
| May 14, 2024 | Barclays | Underweight | Equal-Weight | Upgrade |
| Apr 30, 2024 | Barclays | Underweight | Underweight | Hold |
| Apr 29, 2024 | Deutsche Bank | Hold | Hold | Hold |
| Apr 29, 2024 | Canaccord Genuity | Buy | Buy | Hold |
| Feb 09, 2024 | Morgan Stanley | Equal-Weight | Equal-Weight | Hold |
| Feb 09, 2024 | Barclays | Underweight | Underweight | Hold |
| Feb 09, 2024 | Raymond James | Strong Buy | Outperform | Downgrade |
Newell Brands's last stock rating was published by Deutsche Bank on Jul 29, 2024. The company gave NWL a "Hold" rating, the same as its previous rate.
Newell Brands Financial Forecast
Newell Brands Revenue Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | $2.08B | $2.05B | $2.20B | $1.80B | $2.29B | $2.25B | - | $2.39B | $2.81B | $2.79B | $2.71B | $2.29B | $2.69B | $2.70B | $2.11B | $1.89B | $2.98B | $2.45B |
| Avg Forecast | $2.05B | $2.00B | $2.08B | $1.69B | $2.03B | $1.98B | $2.05B | $1.65B | $2.00B | $1.95B | $2.05B | $1.64B | $1.98B | $2.12B | $2.15B | $1.79B | $2.23B | $2.25B | $2.54B | $2.28B | $2.65B | $2.78B | $2.56B | $2.07B | $2.61B | $2.48B | $2.03B | $1.91B | $2.58B | $2.43B |
| High Forecast | $2.09B | $2.04B | $2.13B | $1.72B | $2.07B | $2.02B | $2.09B | $1.68B | $2.04B | $2.01B | $2.09B | $1.68B | $1.99B | $2.14B | $2.20B | $1.83B | $2.27B | $2.29B | $2.54B | $2.30B | $2.68B | $2.81B | $2.59B | $2.09B | $2.65B | $2.51B | $2.05B | $1.94B | $2.61B | $2.46B |
| Low Forecast | $2.04B | $1.99B | $2.07B | $1.68B | $2.02B | $1.97B | $2.04B | $1.64B | $1.99B | $1.93B | $2.04B | $1.64B | $1.96B | $2.09B | $2.14B | $1.78B | $2.22B | $2.24B | $2.54B | $2.24B | $2.61B | $2.74B | $2.52B | $2.03B | $2.57B | $2.44B | $1.99B | $1.88B | $2.54B | $2.39B |
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 6 | 8 | 5 | 4 | 4 | 3 | 5 | 3 | 6 | 4 | 6 | 7 | 7 | 8 | 7 | 10 | 9 | 6 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.05% | 0.97% | 1.02% | 1.01% | 1.03% | 1.00% | - | 1.05% | 1.06% | 1.00% | 1.06% | 1.11% | 1.03% | 1.09% | 1.04% | 0.99% | 1.15% | 1.01% |
Newell Brands's average Quarter revenue forecast for Mar 24 based on 3 analysts is $1.64B, with a low forecast of $1.64B, and a high forecast of $1.68B. NWL's average Quarter revenue forecast represents a -20.79% decrease compared to the company's last Quarter revenue of $2.08B (Dec 23).
Newell Brands EBITDA Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 6 | 8 | 5 | 4 | 4 | 3 | 5 | 3 | 6 | 4 | 6 | 7 | 7 | 8 | 7 | 10 | 9 | 6 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | $-10.00M | $-159.00M | $120.00M | $71.00M | $138.00M | $178.00M | - | $298.00M | $249.00M | $358.00M | $388.00M | $279.00M | $260.00M | $445.00M | $249.00M | $-1.33B | $145.60M | $-766.40M |
| Avg Forecast | $305.92M | $298.32M | $310.49M | $251.47M | $301.91M | $294.64M | $304.94M | $245.91M | $297.41M | $291.05M | $304.91M | $444.86M | $294.56M | $316.02M | $320.75M | $351.67M | $331.98M | $362.30M | $378.24M | $278.00M | $181.09M | $329.36M | $293.16M | $191.64M | $216.67M | $303.99M | $196.18M | $-730.95M | $134.40M | $-533.74M |
| High Forecast | $311.88M | $304.14M | $316.55M | $256.37M | $307.80M | $300.38M | $310.89M | $250.71M | $303.21M | $299.96M | $310.86M | $533.84M | $296.05M | $319.37M | $327.00M | $422.00M | $338.46M | $434.76M | $378.24M | $333.60M | $217.31M | $395.23M | $351.79M | $229.96M | $260.00M | $364.79M | $235.42M | $-584.76M | $161.28M | $-426.99M |
| Low Forecast | $304.21M | $296.66M | $308.76M | $250.07M | $300.23M | $292.99M | $303.24M | $244.54M | $295.76M | $288.08M | $303.21M | $355.89M | $291.58M | $311.76M | $318.96M | $281.34M | $330.13M | $289.84M | $378.24M | $222.40M | $144.87M | $263.49M | $234.52M | $153.31M | $173.33M | $243.19M | $156.95M | $-877.14M | $107.52M | $-640.49M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | -0.03% | -0.50% | 0.37% | 0.20% | 0.42% | 0.49% | - | 1.07% | 1.38% | 1.09% | 1.32% | 1.46% | 1.20% | 1.46% | 1.27% | 1.82% | 1.08% | 1.44% |
8 analysts predict NWL's average Quarter EBITDA for Sep 23 to be $316.02M, with a high of $319.37M and a low of $311.76M. This is 163.35% upper than Newell Brands's previous annual EBITDA (Jun 23) of $120.00M.
Newell Brands Net Income Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 6 | 8 | 5 | 4 | 4 | 3 | 5 | 3 | 6 | 4 | 6 | 7 | 7 | 8 | 7 | 10 | 9 | 6 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | $-86.00M | $-218.00M | $18.00M | $-102.00M | $-249.00M | $31.00M | - | $234.00M | $96.00M | $190.00M | $197.00M | $89.00M | $127.00M | $304.00M | $78.00M | $-1.28B | $793.80M | $-625.80M |
| Avg Forecast | $100.35M | $104.01M | $158.04M | $39.09M | $84.26M | $91.77M | $130.08M | $11.41M | $53.33M | $66.19M | $89.35M | $249.64M | $72.90M | $96.36M | $55.99M | $197.34M | $47.83M | $192.28M | $193.93M | $156.00M | $69.82M | $174.80M | $148.84M | $61.13M | $105.83M | $207.67M | $61.45M | $-703.45M | $732.74M | $-435.82M |
| High Forecast | $102.89M | $106.65M | $162.04M | $40.08M | $86.40M | $94.09M | $133.38M | $11.70M | $54.68M | $67.87M | $91.62M | $299.56M | $81.47M | $117.31M | $57.41M | $236.81M | $49.05M | $230.74M | $193.93M | $187.20M | $83.78M | $209.76M | $178.61M | $73.36M | $127.00M | $249.20M | $73.75M | $-562.76M | $879.29M | $-348.66M |
| Low Forecast | $99.62M | $103.25M | $156.89M | $38.81M | $83.65M | $91.10M | $129.14M | $11.33M | $52.94M | $62.05M | $88.70M | $199.71M | $68.61M | $87.98M | $55.58M | $157.87M | $47.49M | $153.82M | $193.93M | $124.80M | $55.85M | $139.84M | $119.08M | $48.91M | $84.67M | $166.14M | $49.16M | $-844.14M | $586.19M | $-522.99M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | -1.18% | -2.26% | 0.32% | -0.52% | -5.21% | 0.16% | - | 1.50% | 1.38% | 1.09% | 1.32% | 1.46% | 1.20% | 1.46% | 1.27% | 1.82% | 1.08% | 1.44% |
Newell Brands's average Quarter net income forecast for Sep 23 is $96.36M, with a range of $87.98M to $117.31M. NWL's average Quarter net income forecast represents a 435.32% increase compared to the company's last Quarter net income of $18.00M (Jun 23).
Newell Brands SG&A Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 6 | 8 | 5 | 4 | 4 | 3 | 5 | 3 | 6 | 4 | 6 | 7 | 7 | 8 | 7 | 10 | 9 | 6 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | $544.00M | $501.00M | $476.00M | $480.00M | $544.00M | $467.00M | - | $518.00M | $607.00M | $561.00M | $572.00M | $534.00M | $608.00M | $545.00M | $488.00M | $548.00M | $709.00M | $607.70M |
| Avg Forecast | $471.30M | $459.60M | $478.35M | $387.42M | $465.13M | $453.93M | $469.80M | $378.86M | $458.20M | $448.41M | $469.75M | $552.61M | $453.81M | $486.88M | $494.15M | $436.85M | $511.46M | $567.73M | $582.72M | $345.33M | $441.45M | $516.12M | $432.18M | $366.79M | $506.67M | $372.30M | $384.48M | $301.40M | $654.46M | $423.22M |
| High Forecast | $480.50M | $468.57M | $487.69M | $394.98M | $474.20M | $462.78M | $478.96M | $386.25M | $467.14M | $462.13M | $478.92M | $663.13M | $456.10M | $492.03M | $503.80M | $524.22M | $521.44M | $681.28M | $582.72M | $414.40M | $529.75M | $619.34M | $518.61M | $440.15M | $608.00M | $446.77M | $461.38M | $361.68M | $785.35M | $507.86M |
| Low Forecast | $468.68M | $457.04M | $475.69M | $385.26M | $462.54M | $451.40M | $467.18M | $376.75M | $455.65M | $443.83M | $467.14M | $442.09M | $449.22M | $480.31M | $491.40M | $349.48M | $508.61M | $454.19M | $582.72M | $276.27M | $353.16M | $412.90M | $345.74M | $293.43M | $405.33M | $297.84M | $307.59M | $241.12M | $523.57M | $338.58M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.20% | 1.03% | 0.96% | 1.10% | 1.06% | 0.82% | - | 1.50% | 1.38% | 1.09% | 1.32% | 1.46% | 1.20% | 1.46% | 1.27% | 1.82% | 1.08% | 1.44% |
Newell Brands's average Quarter SG&A projection for Mar 24 is $552.61M, based on 3 Wall Street analysts, with a range of $442.09M to $663.13M. The forecast indicates a 1.58% rise compared to NWL last annual SG&A of $544.00M (Dec 23).
Newell Brands EPS Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 6 | 8 | 5 | 4 | 4 | 3 | 5 | 3 | 6 | 4 | 6 | 7 | 7 | 8 | 7 | 10 | 9 | 6 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | $-0.21 | $-0.53 | $0.04 | $-0.25 | $-0.60 | $0.07 | - | $0.55 | $0.23 | $0.45 | $0.46 | $0.21 | $0.30 | $0.72 | $0.18 | $-3.02 | $1.88 | $-1.48 |
| Avg Forecast | $0.24 | $0.25 | $0.38 | $0.09 | $0.20 | $0.22 | $0.31 | $0.03 | $0.13 | $0.16 | $0.21 | $-0.07 | $0.17 | $0.23 | $0.13 | $-0.03 | $0.11 | $0.47 | $0.47 | $0.27 | $0.32 | $0.50 | $0.45 | $0.13 | $0.48 | $0.43 | $0.18 | $0.05 | $0.37 | $0.55 |
| High Forecast | $0.25 | $0.26 | $0.39 | $0.10 | $0.21 | $0.23 | $0.32 | $0.03 | $0.13 | $0.16 | $0.22 | $-0.07 | $0.19 | $0.28 | $0.14 | $-0.03 | $0.12 | $0.48 | $0.47 | $0.27 | $0.33 | $0.50 | $0.46 | $0.14 | $0.49 | $0.44 | $0.18 | $0.06 | $0.38 | $0.56 |
| Low Forecast | $0.24 | $0.25 | $0.38 | $0.09 | $0.20 | $0.22 | $0.31 | $0.03 | $0.13 | $0.15 | $0.21 | $-0.07 | $0.16 | $0.21 | $0.13 | $-0.03 | $0.11 | $0.46 | $0.47 | $0.26 | $0.32 | $0.49 | $0.44 | $0.13 | $0.47 | $0.42 | $0.18 | $0.05 | $0.37 | $0.54 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | -1.20% | -2.30% | 0.32% | 7.40% | -5.25% | 0.15% | - | 2.04% | 0.71% | 0.91% | 1.02% | 1.56% | 0.62% | 1.68% | 1.00% | -55.01% | 5.02% | -2.68% |
According to 8 Wall Street analysts, Newell Brands's projected average Quarter EPS for Sep 23 is $0.23, with a low estimate of $0.21 and a high estimate of $0.28. This represents a 429.68% increase compared to NWL previous annual EPS of $0.04 (Jun 23).
Newell Brands Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| NWL | Newell Brands | $7.83 | $16.70 | 113.28% | Hold |
| EL | Estée Lauder Companies | $84.56 | $176.72 | 108.99% | Hold |
| ELF | e.l.f. Beauty | $116.63 | $172.55 | 47.95% | Buy |
| IPAR | Inter Parfums | $117.54 | $157.00 | 33.57% | Buy |
| CHD | Church & Dwight | $104.04 | $111.00 | 6.69% | Buy |
| KMB | Kimberly-Clark | $143.52 | $144.15 | 0.44% | Hold |
| UL | Unilever | $65.06 | $59.00 | -9.31% | Buy |
| PG | Procter & Gamble Company | $174.08 | $156.05 | -10.36% | Buy |
| CLX | Clorox Company | $166.27 | $146.67 | -11.79% | Hold |
| CL | Colgate-Palmolive Company | $105.73 | $90.75 | -14.17% | Buy |
NWL Forecast FAQ
Is Newell Brands a good buy?
No, according to 11 Wall Street analysts, Newell Brands (NWL) is considered a 'Hold'. The rating consensus is based on 0 'Strong Buy' and 5 'Buy' recommendations, accounting for 45.45% of NWL's total ratings.
What is NWL's price target?
Newell Brands (NWL) average price target is $16.7 with a range of $8 to $28, implying a 113.28% from its last price of $7.83. The data is based on 11 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Newell Brands stock go up soon?
According to Wall Street analysts' prediction for NWL stock, the company can go up by 113.28% (from the last price of $7.83 to the average price target of $16.7), up by 257.60% based on the highest stock price target, and up by 2.17% based on the lowest stock price target.
Can Newell Brands stock reach $12?
NWL's average twelve months analyst stock price target of $16.7 supports the claim that Newell Brands can reach $12 in the near future.
What are Newell Brands's analysts' financial forecasts?
Newell Brands's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $7.7B (high $7.85B, low $7.66B), average EBITDA is $1.15B (high $1.17B, low $1.14B), average net income is $317.52M (high $325.57M, low $315.22M), average SG&A $1.77B (high $1.8B, low $1.76B), and average EPS is $0.759 (high $0.779, low $0.754). NWL's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $7.83B (high $7.98B, low $7.79B), average EBITDA is $1.17B (high $1.19B, low $1.16B), average net income is $401.48M (high $411.67M, low $398.57M), average SG&A $1.8B (high $1.83B, low $1.79B), and average EPS is $0.96 (high $0.984, low $0.953).
Did the NWL's actual financial results beat the analysts' financial forecasts?
Based on Newell Brands's last annual report (Dec 2023), the company's revenue was $8.13B, beating the average analysts forecast of $8.05B by 1.08%. Apple's EBITDA was $-85M, missing the average prediction of $1.28B by -106.63%. The company's net income was $-388M, missing the average estimation of $422.58M by -191.82%. Apple's SG&A was $2B, beating the average forecast of $1.87B by 6.91%. Lastly, the company's EPS was $-0.94, missing the average prediction of $0.505 by -286.21%. In terms of the last quarterly report (Dec 2023), Newell Brands's revenue was $2.08B, beating the average analysts' forecast of $1.98B by 4.99%. The company's EBITDA was $-10M, missing the average prediction of $294.56M by -103.39%. Newell Brands's net income was $-86M, missing the average estimation of $72.9M by -217.98%. The company's SG&A was $544M, beating the average forecast of $453.81M by 19.87%. Lastly, the company's EPS was $-0.21, missing the average prediction of $0.174 by -220.48%