Newell Brands (NASDAQ:NWL) Updates Q4 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.11-$0.14 for the period, compared to the consensus estimate of $0.13. The company issued revenue guidance of $1.95-$2.02 billion, compared to the consensus revenue estimate of $2.00 billion. Newell Brands also updated its FY 2024 guidance to 0.630-0.660 EPS.

Newell Brands Stock Up 21.6 %

NASDAQ NWL traded up $1.55 during trading on Friday, hitting $8.73. The company’s stock had a trading volume of 21,253,426 shares, compared to its average volume of 5,488,259. Newell Brands has a fifty-two week low of $5.39 and a fifty-two week high of $9.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The company has a market cap of $3.62 billion, a PE ratio of -12.13, a P/E/G ratio of 1.31 and a beta of 0.91. The business’s 50 day simple moving average is $7.44 and its 200-day simple moving average is $7.32.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $0.39 EPS. Newell Brands’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that Newell Brands will post 0.65 EPS for the current fiscal year.

Newell Brands Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on NWL shares. JPMorgan Chase & Co. dropped their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft upped their target price on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price target 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. Canaccord Genuity Group upped their price objective on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company raised their target price on shares of Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.80.

About Newell Brands

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.