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 earnings per share guidance of 0.630-0.660 for the period, compared to the consensus earnings per share 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 guidance to $0.11-$0.14 EPS.

Newell Brands Price Performance

Shares of NWL opened at $8.73 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The company’s fifty day moving average price is $7.44 and its 200-day moving average price is $7.32. Newell Brands has a 1-year low of $5.39 and a 1-year high of $9.24. The firm has a market capitalization of $3.62 billion, a PE ratio of -12.13, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share. On average, equities research analysts predict that Newell Brands will post 0.65 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s payout ratio is currently -38.89%.

Wall Street Analyst Weigh In

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

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.