Newell Brands (NASDAQ:NWL) Issues Q2 2024 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.180-0.210 for the period, compared to the consensus EPS estimate of 0.250. The company issued revenue guidance of $2.0 billion-$2.1 billion, compared to the consensus revenue estimate of $2.0 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. boosted their price objective on shares of Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a report on Tuesday, January 9th. Morgan Stanley decreased 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 report on Monday, February 12th. Raymond James cut shares of Newell Brands from an outperform rating to a market perform rating in a report on Monday, February 12th. Finally, UBS Group cut shares of Newell Brands from a buy rating to a neutral rating and decreased their price objective for the company from $10.00 to $8.50 in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $9.13.

Newell Brands Trading Up 12.2 %

Shares of NWL opened at $7.79 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.16 and a debt-to-equity ratio of 1.47. Newell Brands has a twelve month low of $6.49 and a twelve month high of $12.31. The firm’s 50 day moving average price is $7.49 and its two-hundred day moving average price is $7.74.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The business’s revenue was down 5.8% on a year-over-year basis. As a group, research analysts forecast that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Wednesday, February 28th. Newell Brands’s payout ratio is currently -38.89%.

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.