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 EPS guidance of 0.140-0.170 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of equities analysts have commented on NWL shares. Wells Fargo & Company cut their price objective on shares of Newell Brands from $8.00 to $6.00 and set an equal weight rating on the stock in a report on Wednesday, July 10th. Citigroup reduced their price target on Newell Brands from $8.00 to $6.25 and set a neutral rating for the company in a report on Wednesday, July 10th. Barclays upgraded 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. cut their target price on Newell Brands from $8.00 to $7.00 and set a neutral rating on the stock in a research report on Monday, July 22nd. Finally, Canaccord Genuity Group raised their price target on shares of Newell Brands from $9.00 to $10.00 and gave the stock a buy rating in a research report on Monday, April 29th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $8.18.

Newell Brands Stock Performance

NWL stock traded up $2.57 during trading on Friday, hitting $8.91. 26,323,587 shares of the company’s stock traded hands, compared to its average volume of 4,567,726. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -12.38, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.61. The stock has a fifty day moving average price of $6.90 and a two-hundred day moving average price of $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.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, beating 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 business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Newell Brands will post 0.62 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, May 31st. Newell Brands’s dividend payout ratio (DPR) is -38.89%.

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.