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

Newell Brands (NASDAQ:NWL) updated its FY 2024 earnings guidance on Friday. 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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NWL. Truist Financial lifted their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Citigroup downgraded shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a report on Monday, July 29th. Canaccord Genuity Group boosted their price target 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. Finally, Royal Bank of Canada boosted their price target on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report 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’s stock. Based on data from MarketBeat.com, Newell Brands has an average rating of “Hold” and a consensus target price of $8.80.

Newell Brands Trading Up 21.6 %

NASDAQ NWL traded up $1.55 on Friday, hitting $8.73. 21,253,426 shares of the company were exchanged, compared to its average volume of 5,488,259. The company’s 50 day moving average price is $7.44 and its 200-day moving average price is $7.32. 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 firm has a market capitalization of $3.62 billion, a P/E ratio of -12.13, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91. Newell Brands has a twelve month low of $5.39 and a twelve month high of $9.24.

Newell Brands (NASDAQ:NWL) last posted 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. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts predict that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid 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 3.21%. Newell Brands’s dividend payout ratio (DPR) is presently -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.