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

Newell Brands (NASDAQ:NWL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.630-0.660 for the period, compared to the consensus EPS estimate of 0.650. The company issued revenue guidance of $7.6 billion-$7.6 billion, compared to the consensus revenue estimate of $7.7 billion. Newell Brands also updated its Q4 2024 guidance to 0.110-0.140 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NWL. Wells Fargo & Company lifted their target price on shares of Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Truist Financial upped their price objective on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their target price on Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. decreased their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, Canaccord Genuity Group increased their price objective on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.80.

Newell Brands Price Performance

Shares of NASDAQ:NWL opened at $7.18 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $2.99 billion, a PE ratio of -11.05, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91. The firm’s 50 day moving average price is $7.41 and its 200-day moving average price is $7.31. Newell Brands has a twelve month low of $5.39 and a twelve month high of $9.24.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.15. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Equities research analysts expect that Newell Brands will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a yield of 3.90%. Newell Brands’s dividend payout ratio (DPR) is presently -43.08%.

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.