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

Newell Brands (NASDAQ:NWL) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.630-0.660 for the period, compared to the consensus 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 equities research analysts recently commented on the company. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Royal Bank of Canada boosted their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. reduced their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Wells Fargo & Company increased their price objective on Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Canaccord Genuity Group boosted their target price on Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.80.

Newell Brands Stock Performance

Shares of Newell Brands stock traded up $1.55 during midday trading on Friday, hitting $8.73. The company had a trading volume of 21,253,426 shares, compared to its average volume of 5,488,259. Newell Brands has a 1-year low of $5.39 and a 1-year high of $9.24. The business’s 50 day simple moving average is $7.44 and its two-hundred day simple moving average is $7.32. The stock 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 company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $1.95 billion for 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 quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. As a group, equities analysts predict that Newell Brands will post 0.65 EPS for the current fiscal year.

Newell Brands Dividend Announcement

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