Newell Brands (NASDAQ:NWL) Releases Q4 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its fourth quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.11-$0.14 for the period, compared to the consensus estimate of $0.13. The company issued revenue guidance of $1.95-$2.02 billion, compared to the consensus revenue estimate of $2.00 billion. Newell Brands also updated its FY 2024 guidance to 0.630-0.660 EPS.

Newell Brands Stock Performance

Shares of NWL stock opened at $7.18 on Friday. The stock has a fifty day moving average of $7.41 and a 200 day moving average of $7.31. Newell Brands has a 52 week low of $5.39 and a 52 week high of $9.24. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -11.05, a PEG ratio of 1.31 and a beta of 0.91. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. As a group, research analysts expect that Newell Brands will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, August 30th. Newell Brands’s payout ratio is -43.08%.

Analyst Upgrades and Downgrades

NWL has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective 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. Canaccord Genuity Group raised their price objective on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Truist Financial raised their price objective on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. One research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.80.

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.