Newell Brands (NASDAQ:NWL) Issues Q3 2024 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.140-0.170 for the period, compared to the consensus estimate of 0.200. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $1.9 billion. Newell Brands also updated its FY 2024 guidance to 0.600-0.650 EPS.

Newell Brands Stock Up 40.5 %

Shares of NASDAQ:NWL traded up $2.57 during mid-day trading on Friday, hitting $8.91. 26,323,587 shares of the company traded hands, compared to its average volume of 4,567,726. The stock has a 50-day moving average price of $6.90 and a two-hundred day moving average price of $7.48. Newell Brands has a 12-month low of $5.39 and a 12-month high of $11.61. The stock has a market cap of $3.70 billion, a P/E ratio of -12.38, a P/E/G ratio of 1.18 and a beta of 0.89. 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:NWL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.15. Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm earned $0.24 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Newell Brands will post 0.6 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.07 per share. The ex-dividend date was Friday, May 31st. This represents a $0.28 annualized dividend and a dividend yield of 3.14%. Newell Brands’s dividend payout ratio is currently -38.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NWL shares. JPMorgan Chase & Co. lowered their target price on Newell Brands from $8.00 to $7.00 and set a neutral rating on the stock in a research note on Monday, July 22nd. Citigroup reduced their target price on shares of Newell Brands from $8.00 to $6.25 and set a neutral rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company dropped their price target on shares of Newell Brands from $8.00 to $6.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. Barclays raised Newell Brands from an underweight rating to an equal weight rating and set a $8.00 target price for the company in a report on Tuesday, May 14th. Finally, Canaccord Genuity Group increased their target price on shares of Newell Brands from $9.00 to $10.00 and gave the stock a buy rating in a research note on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $8.18.

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.