Newell Brands (NASDAQ:NWL) Releases Q3 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its third quarter earnings guidance on Friday morning. The company provided EPS guidance of $0.14-0.17 for the period, compared to the consensus EPS estimate of $0.20. Newell Brands also updated its FY 2024 guidance to 0.600-0.650 EPS.

Newell Brands Stock Up 40.5 %

NASDAQ:NWL traded up $2.57 during mid-day trading on Friday, hitting $8.91. The stock had a trading volume of 26,323,587 shares, compared to its average volume of 4,567,726. 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 has a twelve month low of $5.39 and a twelve month high of $11.61. The company has a market capitalization of $3.70 billion, a PE ratio of -12.38, a PEG ratio of 1.66 and a beta of 0.89. The stock has a 50-day simple moving average of $6.90 and a two-hundred day simple moving average of $7.48.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.15. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. On average, equities research analysts anticipate that Newell Brands will post 0.62 EPS for the current year.

Newell Brands Announces Dividend

The company also recently declared 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. This represents a $0.28 annualized dividend and a yield of 3.14%. The ex-dividend date was Friday, May 31st. Newell Brands’s dividend payout ratio (DPR) is -38.89%.

Analyst Ratings Changes

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