Newell Brands (NASDAQ:NWL) Updates Q4 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its fourth quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.11-$0.14 for the period, compared to the consensus earnings per share estimate of $0.13. The company issued revenue guidance of $1.95-$2.02 billion, compared to the consensus revenue estimate of $2.00 billion. Newell Brands also updated its FY 2024 guidance to 0.630-0.660 EPS.

Newell Brands Price Performance

NASDAQ NWL opened at $7.18 on Friday. The stock has a 50-day moving average of $7.41 and a 200 day moving average of $7.31. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -11.05, a PEG ratio of 1.31 and a beta of 0.91. Newell Brands has a one year low of $5.39 and a one year high of $9.24. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98.

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

Newell Brands Announces Dividend

The company also recently declared 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 of this dividend was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.90%. Newell Brands’s dividend payout ratio is currently -43.08%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Royal Bank of Canada lifted their price objective on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Canaccord Genuity Group lifted 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.80.

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.