Newell Brands (NASDAQ:NWL) Releases Q3 2022 Earnings Guidance

Newell Brands (NASDAQ:NWLGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of $0.46-$0.51 for the period, compared to the consensus EPS estimate of $0.53. The company issued revenue guidance of $2.21 billion-$2.32 billion, compared to the consensus revenue estimate of $2.52 billion. Newell Brands also updated its FY 2022 guidance to $1.56-$1.70 EPS.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NWL. Wells Fargo & Company dropped their price target on Newell Brands from $20.00 to $18.00 and set an equal weight rating on the stock in a research report on Wednesday, September 7th. Barclays cut their target price on Newell Brands from $19.00 to $18.00 and set an equal weight rating on the stock in a research note on Monday, September 12th. UBS Group lowered their price target on shares of Newell Brands from $27.00 to $21.00 and set a buy rating for the company in a research report on Wednesday, September 7th. Morgan Stanley cut their price objective on shares of Newell Brands from $27.00 to $25.00 and set an equal weight rating on the stock in a research report on Wednesday, August 3rd. Finally, Raymond James decreased their target price on shares of Newell Brands from $26.00 to $23.00 in a research report on Wednesday, September 7th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $22.00.

Newell Brands Price Performance

Shares of Newell Brands stock traded down $0.41 during trading on Friday, hitting $14.40. The stock had a trading volume of 64,832 shares, compared to its average volume of 3,530,031. The business has a fifty day moving average of $19.07 and a two-hundred day moving average of $20.47. Newell Brands has a fifty-two week low of $14.77 and a fifty-two week high of $26.45. The firm has a market cap of $5.96 billion, a P/E ratio of 8.71 and a beta of 0.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.03 and a quick ratio of 0.48.

Newell Brands (NASDAQ:NWLGet Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. Newell Brands had a net margin of 6.89% and a return on equity of 19.96%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the firm posted $0.56 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, sell-side analysts expect that Newell Brands will post 1.63 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.39%. Newell Brands’s dividend payout ratio (DPR) is presently 54.12%.

Insider Transactions at Newell Brands

In other Newell Brands news, Director Brett Icahn sold 71,304 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $16.89, for a total transaction of $1,204,324.56. Following the sale, the director now owns 953,003 shares in the company, valued at approximately $16,096,220.67. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Newell Brands news, Director Brett Icahn sold 71,304 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $16.89, for a total transaction of $1,204,324.56. Following the transaction, the director now directly owns 953,003 shares in the company, valued at approximately $16,096,220.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Courtney Mather sold 50,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $18.17, for a total transaction of $908,500.00. Following the sale, the director now directly owns 10,691 shares in the company, valued at $194,255.47. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Newell Brands by 1.0% during the first quarter. Vanguard Group Inc. now owns 43,445,148 shares of the company’s stock worth $930,160,000 after purchasing an additional 443,812 shares during the period. State Street Corp boosted its stake in shares of Newell Brands by 6.6% during the 1st quarter. State Street Corp now owns 21,398,665 shares of the company’s stock valued at $458,145,000 after buying an additional 1,330,465 shares during the period. Royal Bank of Canada grew its holdings in shares of Newell Brands by 6.8% during the 1st quarter. Royal Bank of Canada now owns 5,290,399 shares of the company’s stock valued at $113,268,000 after acquiring an additional 338,596 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Newell Brands by 3.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,905,676 shares of the company’s stock worth $62,211,000 after acquiring an additional 105,731 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Newell Brands by 10.1% during the first quarter. Renaissance Technologies LLC now owns 2,212,527 shares of the company’s stock worth $47,370,000 after acquiring an additional 202,600 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Company Profile

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Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

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Earnings History and Estimates for Newell Brands (NASDAQ:NWL)

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