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

Newell Brands (NASDAQ:NWL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.520-0.620 for the period, compared to the consensus estimate of 0.570. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Newell Brands also updated its FY24 guidance to $0.52-$0.62 EPS.

Newell Brands Stock Up 12.2 %

Shares of NASDAQ NWL traded up $0.85 during midday trading on Friday, hitting $7.79. 9,823,179 shares of the stock traded hands, compared to its average volume of 5,106,179. The company has a market cap of $3.23 billion, a PE ratio of -8.20, a P/E/G ratio of 1.39 and a beta of 0.95. Newell Brands has a one year low of $6.49 and a one year high of $12.31. The business has a 50 day moving average price of $7.49 and a two-hundred day moving average price of $7.73. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.63 and a current ratio of 1.16.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, February 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $1.98 billion. Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The company’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, equities analysts predict that Newell Brands will post 0.56 EPS for the current year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.28 annualized dividend and a yield of 3.59%. Newell Brands’s dividend payout ratio (DPR) is currently -29.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating on the stock in a report on Monday, February 12th. JPMorgan Chase & Co. boosted their price target on shares of Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. UBS Group downgraded shares of Newell Brands from a buy rating to a neutral rating and cut their price target for the stock from $10.00 to $8.50 in a report on Friday, February 16th. Royal Bank of Canada cut their price target on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a report on Monday, February 12th. Finally, Barclays boosted their price target on shares of Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Newell Brands presently has an average rating of Hold and a consensus price target of $9.13.

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.