Newell Brands Inc. (NASDAQ:NWL) to Post Q2 2024 Earnings of $0.21 Per Share, Zacks Research Forecasts

Newell Brands Inc. (NASDAQ:NWLFree Report) – Research analysts at Zacks Research cut their Q2 2024 earnings per share estimates for Newell Brands in a research report issued to clients and investors on Friday, May 17th. Zacks Research analyst R. Lohia now anticipates that the company will post earnings per share of $0.21 for the quarter, down from their previous forecast of $0.24. The consensus estimate for Newell Brands’ current full-year earnings is $0.60 per share. Zacks Research also issued estimates for Newell Brands’ FY2024 earnings at $0.60 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.24 EPS, FY2025 earnings at $0.79 EPS, Q1 2026 earnings at $0.07 EPS and FY2026 earnings at $0.96 EPS.

NWL has been the subject of a number of other reports. Morgan Stanley lowered their price objective 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. Raymond James lowered shares of Newell Brands from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Royal Bank of Canada reduced their price objective on shares of Newell Brands from $9.00 to $7.50 and set a “sector perform” rating for the company in a research note on Monday, February 12th. Canaccord Genuity Group increased their target price on Newell Brands from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, Barclays raised Newell Brands from an “underweight” rating to an “equal weight” rating and set a $8.00 price target for the company in a research report on Tuesday, May 14th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.70.

View Our Latest Stock Analysis on Newell Brands

Newell Brands Stock Performance

Shares of NASDAQ:NWL opened at $8.22 on Monday. Newell Brands has a 12 month low of $6.49 and a 12 month high of $11.61. The firm’s 50-day moving average is $7.68 and its 200 day moving average is $7.88. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -11.42, a PEG ratio of 1.51 and a beta of 0.95. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48.

Newell Brands (NASDAQ:NWLGet Free Report) last released its quarterly 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 the consensus estimate of $1.64 billion. Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. Newell Brands’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.28 annualized dividend and a yield of 3.41%. Newell Brands’s dividend payout ratio is presently -38.89%.

Hedge Funds Weigh In On Newell Brands

A number of large investors have recently bought and sold shares of the business. Quarry LP raised its position in shares of Newell Brands by 106.2% during the 4th quarter. Quarry LP now owns 4,731 shares of the company’s stock worth $41,000 after purchasing an additional 2,437 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Newell Brands by 50.5% in the first quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after acquiring an additional 1,780 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Newell Brands in the fourth quarter valued at approximately $45,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Newell Brands in the third quarter worth approximately $51,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Newell Brands during the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

About Newell Brands

(Get Free Report)

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.

See Also

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

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