Newell Brands (NASDAQ:NWL) Issues FY 2022 Earnings Guidance

Newell Brands (NASDAQ:NWLGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $1.56-$1.70 for the period, compared to the consensus EPS estimate of $1.83. The company issued revenue guidance of $9.37 billion-$9.58 billion, compared to the consensus revenue estimate of $9.89 billion. Newell Brands also updated its Q3 2022 guidance to $0.46-$0.51 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on Newell Brands from $20.00 to $18.00 and set an equal weight rating on the stock in a research report on Wednesday, September 7th. Morgan Stanley decreased their target price on Newell Brands from $27.00 to $25.00 and set an equal weight rating for the company in a research note on Wednesday, August 3rd. Raymond James dropped their price objective on Newell Brands from $26.00 to $23.00 in a report on Wednesday, September 7th. Barclays lowered their target price on shares of Newell Brands from $19.00 to $18.00 and set an equal weight rating on the stock in a research report on Monday, September 12th. Finally, Jefferies Financial Group dropped their price objective on shares of Newell Brands from $34.00 to $28.00 and set a buy rating on the stock in a research note on Wednesday, September 14th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Newell Brands currently has a consensus rating of Moderate Buy and a consensus target price of $22.00.

Newell Brands Stock Performance

Newell Brands stock traded down $0.41 during mid-day trading on Friday, reaching $14.40. The company’s stock had a trading volume of 64,832 shares, compared to its average volume of 3,530,031. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 8.71 and a beta of 0.76. The business has a 50 day moving average price of $19.07 and a 200-day moving average price of $20.47. Newell Brands has a twelve month low of $14.77 and a twelve month high of $26.45. The company has a current ratio of 1.03, a quick ratio of 0.48 and a debt-to-equity ratio of 0.96.

Newell Brands (NASDAQ:NWLGet Rating) last released its earnings results on Friday, July 29th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Newell Brands had a net margin of 6.89% and a return on equity of 19.96%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm earned $0.56 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts predict that Newell Brands will post 1.63 EPS for the current fiscal year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 6.39%. The ex-dividend date was Tuesday, August 30th. Newell Brands’s dividend payout ratio is currently 54.12%.

Insider Transactions at Newell Brands

In other news, Director Brett Icahn sold 71,304 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $16.89, for a total transaction of $1,204,324.56. Following the transaction, the director now owns 953,003 shares in the company, valued at approximately $16,096,220.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Newell Brands news, Director Courtney Mather sold 50,000 shares of Newell Brands stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $18.17, for a total transaction of $908,500.00. Following the sale, the director now directly owns 10,691 shares of the company’s stock, valued at $194,255.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brett Icahn sold 71,304 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $16.89, for a total value of $1,204,324.56. Following the transaction, the director now owns 953,003 shares of the company’s stock, valued at $16,096,220.67. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Newell Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fairfield Bush & CO. acquired a new stake in Newell Brands during the 1st quarter worth $26,000. Canada Pension Plan Investment Board raised its stake in Newell Brands by 711.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,107 shares of the company’s stock worth $88,000 after buying an additional 3,601 shares during the period. Covestor Ltd lifted its holdings in Newell Brands by 195.8% during the first quarter. Covestor Ltd now owns 6,900 shares of the company’s stock worth $148,000 after acquiring an additional 4,567 shares in the last quarter. XTX Topco Ltd acquired a new position in Newell Brands in the first quarter valued at about $205,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Newell Brands in the second quarter worth about $208,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

About Newell Brands

(Get Rating)

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

Read More

Earnings History and Estimates for Newell Brands (NASDAQ:NWL)

Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.