Newell Brands (NASDAQ:NWL) Releases FY24 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.52-$0.62 for the period, compared to the consensus estimate of $0.57. The company issued revenue guidance of $7.48-$7.73 billion, compared to the consensus revenue estimate of $7.62 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a research note on Tuesday, January 9th. Barclays upped their target price on shares of Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a research note on Tuesday, January 16th. Citigroup reduced their target price on shares of Newell Brands from $9.00 to $7.50 and set a neutral rating for the company in a research note on Monday, February 12th. Morgan Stanley reduced their target price on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a research note on Monday, February 12th. Finally, Raymond James lowered shares of Newell Brands from an outperform rating to a market perform rating in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $9.13.

Newell Brands Price Performance

Newell Brands stock opened at $7.79 on Friday. The firm has a 50-day moving average of $7.49 and a 200-day moving average of $7.74. Newell Brands has a one year low of $6.49 and a one year high of $12.31. 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 issued its earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. Newell Brands’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. On average, equities analysts anticipate that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.07 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.59%. Newell Brands’s payout ratio is -38.89%.

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.