Newell Brands (NASDAQ:NWL – Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.600-0.650 for the period, compared to the consensus EPS estimate of 0.600. The company issued revenue guidance of $7.6 billion-$7.6 billion, compared to the consensus revenue estimate of $7.6 billion. Newell Brands also updated its FY24 guidance to $0.60-0.65 EPS.
Newell Brands Stock Performance
NWL traded up $2.57 during midday 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 company’s 50-day moving average is $6.90 and its 200 day moving average is $7.48. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $3.70 billion, a PE ratio of -12.38, a price-to-earnings-growth ratio of 1.18 and a beta of 0.89. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.61.
Newell Brands (NASDAQ:NWL – Get Free Report) last announced its earnings results 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. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, research analysts expect that Newell Brands will post 0.6 EPS for the current year.
Newell Brands Announces Dividend
Analyst Ratings Changes
A number of brokerages recently weighed in on NWL. Barclays upgraded shares of Newell Brands from an underweight rating to an equal weight rating and set a $8.00 target price for the company in a research report on Tuesday, May 14th. Wells Fargo & Company cut their target price on Newell Brands from $8.00 to $6.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. Citigroup reduced 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. JPMorgan Chase & Co. decreased their target price on Newell Brands from $8.00 to $7.00 and set a neutral rating for the company in a research report on Monday, July 22nd. Finally, Canaccord Genuity Group boosted their price target on Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a report on Monday, April 29th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $8.18.
Check Out Our Latest Stock Analysis on NWL
About Newell Brands
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.
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