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

Newell Brands (NASDAQ:NWL) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 0.520-0.620 for the period, compared to the consensus EPS estimate of 0.570. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Newell Brands also updated its FY24 guidance to $0.52-$0.62 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays raised their target price on shares of Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a research note on Tuesday, January 16th. Royal Bank of Canada lowered their target price on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research note on Monday, February 12th. Citigroup lowered their target price on shares of Newell Brands from $9.00 to $7.50 and set a neutral rating on the stock in a research note on Monday, February 12th. Morgan Stanley lowered their target price on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating on the stock in a research note on Monday, February 12th. Finally, Raymond James downgraded shares of Newell Brands from an outperform rating to a market perform rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $9.13.

Newell Brands Stock Performance

Shares of Newell Brands stock opened at $7.79 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.63 and a current ratio of 1.16. Newell Brands has a 52-week low of $6.49 and a 52-week high of $12.31. The company’s 50 day moving average price is $7.49 and its 200-day moving average price is $7.74.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) earnings per share. On average, sell-side analysts forecast that Newell Brands will post 0.56 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Wednesday, February 28th. 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.