Fortune Brands Innovations (FBIN) to Release Quarterly Earnings on Tuesday

Fortune Brands Innovations (NYSE:FBIN) will be announcing its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Fortune Brands Innovations has set its FY24 guidance at $4.20-4.40 EPS and its FY 2024 guidance at 4.200-4.400 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the company posted $1.07 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. On average, analysts expect Fortune Brands Innovations to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Fortune Brands Innovations Stock Up 1.3 %

NYSE FBIN opened at $74.18 on Friday. The stock’s 50 day moving average is $79.71 and its 200 day moving average is $73.97. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16. Fortune Brands Innovations has a 12 month low of $54.10 and a 12 month high of $84.92. The stock has a market cap of $9.32 billion, a PE ratio of 23.40, a P/E/G ratio of 2.08 and a beta of 1.57.

Insider Transactions at Fortune Brands Innovations

In related news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, the director now directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

FBIN has been the topic of several recent research reports. Robert W. Baird decreased their price objective on Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Oppenheimer began coverage on Fortune Brands Innovations in a research report on Friday, January 19th. They issued a “market perform” rating on the stock. Finally, Barclays upped their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.44.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.