Newell Brands (NASDAQ:NWL) Releases Q3 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its third quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.14-0.17 for the period, compared to the consensus estimate of $0.20. Newell Brands also updated its FY 2024 guidance to 0.600-0.650 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NWL. Canaccord Genuity Group raised their price target on shares of Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a report on Monday, April 29th. Wells Fargo & Company cut their price target on shares of Newell Brands from $8.00 to $6.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Citigroup cut their price target on shares of Newell Brands from $8.00 to $6.25 and set a neutral rating for the company in a report on Wednesday, July 10th. Barclays raised shares of Newell Brands from an underweight rating to an equal weight rating and set a $8.00 price target for the company in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Newell Brands from $8.00 to $7.00 and set a neutral rating for the company in a report on Monday, July 22nd. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $8.18.

Newell Brands Trading Up 40.5 %

Newell Brands stock traded up $2.57 during mid-day trading on Friday, hitting $8.91. The company’s stock had a trading volume of 26,323,587 shares, compared to its average volume of 4,567,726. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.15 and a quick ratio of 0.58. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -12.38, a price-to-earnings-growth ratio of 1.18 and a beta of 0.89. The business has a 50 day moving average price of $6.90 and a 200-day moving average price of $7.49. Newell Brands has a 12 month low of $5.39 and a 12 month high of $11.61.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.15. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.05 billion. Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. As a group, analysts forecast that Newell Brands will post 0.6 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, May 31st. Newell Brands’s dividend payout ratio is presently -38.89%.

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.