Newell Brands (NASDAQ:NWL) Releases Q3 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its third quarter earnings guidance on Friday morning. The company provided EPS guidance of $0.14-0.17 for the period, compared to the consensus EPS estimate of $0.20. Newell Brands also updated its FY 2024 guidance to 0.600-0.650 EPS.

Newell Brands Price Performance

Shares of NASDAQ NWL opened at $6.34 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48. The business’s 50 day moving average price is $6.89 and its 200-day moving average price is $7.49. Newell Brands has a fifty-two week low of $5.39 and a fifty-two week high of $11.61.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.21 by $0.15. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. Newell Brands’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. As a group, equities research analysts forecast that Newell Brands will post 0.6 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.07 per share. The ex-dividend date was Friday, May 31st. This represents a $0.28 annualized dividend and a yield of 4.42%. Newell Brands’s payout ratio is currently -38.89%.

Analyst Upgrades and Downgrades

Several research analysts have commented on NWL shares. Barclays upgraded Newell Brands from an underweight rating to an equal weight rating and set a $8.00 price objective on the stock in a report on Tuesday, May 14th. JPMorgan Chase & Co. dropped their target price on Newell Brands from $8.00 to $7.00 and set a neutral rating on the stock in a research report on Monday. Canaccord Genuity Group increased their target price on Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a research report on Monday, April 29th. Citigroup dropped their target price on Newell Brands from $8.00 to $6.25 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company dropped their target price on Newell Brands from $8.00 to $6.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $8.18.

Newell Brands Company Profile

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.