Newell Brands (NASDAQ:NWL) Issues 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.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Canaccord Genuity Group boosted their price objective on Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, Truist Financial boosted their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.80.

Newell Brands Trading Up 21.6 %

Shares of NASDAQ:NWL traded up $1.55 during midday trading on Friday, hitting $8.73. The company had a trading volume of 21,253,426 shares, compared to its average volume of 5,488,259. The firm has a fifty day simple moving average of $7.44 and a 200 day simple moving average of $7.32. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -12.13, a PEG ratio of 1.31 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 1.32. Newell Brands has a 12 month low of $5.39 and a 12 month high of $9.24.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.39 EPS. On average, analysts predict 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. Stockholders of record on Friday, August 30th were given 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 3.21%. Newell Brands’s dividend payout ratio is -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.