Fortune Brands Innovations (NYSE:FBIN – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.200-4.400 for the period, compared to the consensus earnings per share estimate of 4.290. The company issued revenue guidance of $4.8 billion-$4.9 billion, compared to the consensus revenue estimate of $4.9 billion. Fortune Brands Innovations also updated its FY24 guidance to $4.20 to $4.40 EPS.
Wall Street Analysts Forecast Growth
FBIN has been the subject of several research reports. BMO Capital Markets restated a market perform rating and issued a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Oppenheimer initiated coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They issued a market perform rating for the company. Barclays raised their target price on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an overweight rating in a research note on Wednesday, January 31st. Finally, Robert W. Baird reduced their target price on Fortune Brands Innovations from $86.00 to $85.00 and set a neutral rating for the company in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations currently has an average rating of Hold and an average price target of $79.25.
View Our Latest Stock Analysis on FBIN
Fortune Brands Innovations Stock Performance
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. Fortune Brands Innovations’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 EPS. As a group, equities research analysts anticipate that Fortune Brands Innovations will post 4.27 EPS for the current fiscal year.
Insider Activity at Fortune Brands Innovations
In related news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the transaction, the director now directly owns 2,435 shares in the company, valued at approximately $197,478.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.99% of the stock is owned by company insiders.
Fortune Brands Innovations Company Profile
Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.
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