Newell Brands (NASDAQ:NWL) Updates FY 2024 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.520-0.620 for the period, compared to the consensus earnings per share 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 Stock Up 12.2 %

Shares of NASDAQ: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. The business’s 50 day moving average price is $7.49 and its 200-day moving average price is $7.74. Newell Brands has a 1 year low of $6.49 and a 1 year high of $12.31.

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

Newell Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

NWL has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a research note on Tuesday, January 9th. Morgan Stanley lowered their price objective on Newell Brands from $8.50 to $7.75 and set an equal weight rating on the stock in a research note on Monday, February 12th. UBS Group lowered Newell Brands from a buy rating to a neutral rating and lowered their price objective for the stock from $10.00 to $8.50 in a research note on Friday, February 16th. Barclays boosted their price objective on Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada lowered their price objective on Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research note on Monday, February 12th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price 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.