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 0.520-0.620 for the period, compared to the consensus estimate of 0.570. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Newell Brands also updated its FY24 guidance to $0.52-$0.62 EPS.

Newell Brands Trading Up 12.2 %

NWL opened at $7.79 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.63 and a debt-to-equity ratio of 1.47. The business’s 50-day moving average is $7.49 and its two-hundred day moving average is $7.73. Newell Brands has a 1 year low of $6.49 and a 1 year high of $12.31.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, February 9th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The company’s revenue was down 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.16 EPS. Sell-side analysts anticipate that Newell Brands will post 0.56 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.59%. The ex-dividend date was Wednesday, February 28th. Newell Brands’s dividend payout ratio is currently -29.47%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group downgraded Newell Brands from a buy rating to a neutral rating and dropped their target price for the stock from $10.00 to $8.50 in a research note on Friday, February 16th. Raymond James lowered Newell Brands from an outperform rating to a market perform rating in a research note on Monday, February 12th. Citigroup decreased their price objective on shares of Newell Brands from $9.00 to $7.50 and set a neutral rating for the company in a research report on Monday, February 12th. Royal Bank of Canada dropped their target price on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research report on Monday, February 12th. Finally, Morgan Stanley decreased their price target on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Newell Brands currently has a consensus rating of Hold and a consensus price target of $9.13.

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.