Newell Brands (NASDAQ:NWL) Updates Q4 2024 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.110-0.140 for the period, compared to the consensus earnings per share estimate of 0.130. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $2.0 billion. Newell Brands also updated its FY 2024 guidance to 0.630-0.660 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NWL. Wells Fargo & Company boosted their target price on shares of Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Canaccord Genuity Group boosted their target price on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 29th. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Finally, Royal Bank of Canada upped their price target on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.80.

Newell Brands Stock Performance

NASDAQ:NWL traded up $1.55 during mid-day trading on Friday, reaching $8.73. The company’s stock had a trading volume of 21,224,215 shares, compared to its average volume of 5,488,259. Newell Brands has a 12-month low of $5.39 and a 12-month high of $9.24. The firm’s fifty day moving average price is $7.41 and its two-hundred day moving average price is $7.31. The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 1.32. The stock has a market cap of $3.63 billion, a P/E ratio of -13.66, a PEG ratio of 1.31 and a beta of 0.91.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. Newell Brands’s revenue was down 2.6% on a year-over-year basis. On average, equities analysts forecast that Newell Brands will post 0.65 EPS for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s payout ratio is currently -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.