Newell Brands (NASDAQ:NWL) Updates FY 2024 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.630-0.660 for the period, compared to the consensus estimate of 0.650. The company issued revenue guidance of $7.6 billion-$7.6 billion, compared to the consensus revenue estimate of $7.7 billion. Newell Brands also updated its Q4 guidance to $0.11-$0.14 EPS.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Wells Fargo & Company increased their target price on shares of Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Truist Financial increased their target price on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.80.

Newell Brands Stock Performance

Shares of NWL stock traded up $1.55 during midday trading on Friday, hitting $8.73. 21,224,215 shares of the company were exchanged, compared to its average volume of 5,488,259. The firm has a market capitalization of $3.63 billion, a P/E ratio of -13.66, a PEG ratio of 1.31 and a beta of 0.91. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98. The firm’s 50 day moving average price is $7.41 and its two-hundred day moving average price is $7.31. Newell Brands has a 52 week low of $5.39 and a 52 week high of $9.24.

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

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s payout ratio is -43.08%.

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.