Newell Brands (NASDAQ:NWL) Issues FY 2024 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 0.630-0.660 for the period, compared to the consensus EPS estimate of 0.650. The company issued revenue guidance of $7.6 billion-$7.6 billion, compared to the consensus revenue estimate of $7.7 billion. Newell Brands also updated its Q4 guidance to $0.11-$0.14 EPS.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NWL. Deutsche Bank Aktiengesellschaft raised their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Truist Financial raised their target price on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Canaccord Genuity Group raised their target price on shares of Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Finally, Royal Bank of Canada raised their target price on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Newell Brands has a consensus rating of “Hold” and a consensus target price of $8.80.

Newell Brands Stock Up 21.6 %

Shares of NWL traded up $1.55 during mid-day trading on Friday, reaching $8.73. 21,253,426 shares of the stock traded hands, compared to its average volume of 5,488,259. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -12.13, a P/E/G ratio of 1.31 and a beta of 0.91. The stock has a fifty day simple moving average of $7.44 and a 200 day simple moving average of $7.32. Newell Brands has a 12-month low of $5.39 and a 12-month high of $9.24. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Sell-side analysts expect that Newell Brands will post 0.65 EPS for the current fiscal year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.21%. Newell Brands’s dividend payout ratio (DPR) is presently -38.89%.

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.