Newell Brands (NASDAQ:NWL) Issues Q2 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its second quarter earnings guidance on Friday. The company provided EPS guidance of $0.18-$0.21 for the period, compared to the consensus EPS estimate of $0.25. The company issued revenue guidance of $2.00-$2.05 billion, compared to the consensus revenue estimate of $2.03 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays raised their price target on Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. raised their price target on Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. UBS Group downgraded Newell Brands from a buy rating to a neutral rating and lowered their price target for the stock from $10.00 to $8.50 in a research report on Friday, February 16th. Raymond James downgraded Newell Brands from an outperform rating to a market perform rating in a research report on Monday, February 12th. Finally, Citigroup decreased their target price on Newell Brands from $9.00 to $7.50 and set a neutral rating for the company in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $9.13.

Newell Brands Stock Performance

NWL stock opened at $7.79 on Friday. Newell Brands has a one year low of $6.49 and a one year high of $12.31. The firm’s 50 day moving average price is $7.49 and its 200-day moving average price is $7.73. The company has a quick ratio of 0.63, a current ratio of 1.16 and a debt-to-equity ratio of 1.47.

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

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.07 dividend. 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 is presently -29.47%.

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.