FY2023 Earnings Estimate for Fortune Brands Home & Security, Inc. (NYSE:FBHS) Issued By Jefferies Financial Group

Posted by MarketBeat News on Aug 1st, 2022

Fortune Brands Home & Security, Inc. (NYSE:FBHS – Get Rating) – Equities research analysts at Jefferies Financial Group reduced their FY2023 earnings per share (EPS) estimates for Fortune Brands Home & Security in a report issued on Wednesday, July 27th. Jefferies Financial Group analyst P. Ng now forecasts that the industrial products company will post earnings of $5.75 per share for the year, down from their prior forecast of $6.44. The consensus estimate for Fortune Brands Home & Security’s current full-year earnings is $6.32 per share.

FBHS has been the topic of several other research reports. Bank of America upgraded Fortune Brands Home & Security from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $74.00 to $84.00 in a report on Friday, April 29th. Credit Suisse Group upped their target price on Fortune Brands Home & Security from $90.00 to $95.00 in a research report on Monday, May 9th. Royal Bank of Canada reaffirmed a “maintains” rating on shares of Fortune Brands Home & Security in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on Fortune Brands Home & Security from $84.00 to $77.00 in a report on Friday, July 15th. Finally, Truist Financial reduced their price target on Fortune Brands Home & Security from $115.00 to $100.00 in a report on Friday, April 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $89.54.

Fortune Brands Home & Security Stock Performance

NYSE FBHS opened at $69.68 on Monday. The stock’s fifty day moving average is $64.74 and its two-hundred day moving average is $75.74. The firm has a market capitalization of $9.11 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.83 and a beta of 1.54. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.20 and a current ratio of 2.18. Fortune Brands Home & Security has a fifty-two week low of $56.86 and a fifty-two week high of $109.23.

Fortune Brands Home & Security (NYSE:FBHS – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.58 by $0.09. Fortune Brands Home & Security had a return on equity of 26.00% and a net margin of 9.94%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its position in shares of Fortune Brands Home & Security by 42.5% during the fourth quarter. Toronto Dominion Bank now owns 79,892 shares of the industrial products company’s stock worth $8,540,000 after acquiring an additional 23,820 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Fortune Brands Home & Security by 4.8% during the fourth quarter. Baird Financial Group Inc. now owns 14,203 shares of the industrial products company’s stock worth $1,518,000 after acquiring an additional 653 shares during the last quarter. UMB Bank N A MO purchased a new stake in shares of Fortune Brands Home & Security during the fourth quarter worth about $551,000. Canada Pension Plan Investment Board increased its position in shares of Fortune Brands Home & Security by 685.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,579 shares of the industrial products company’s stock worth $1,238,000 after acquiring an additional 10,105 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Fortune Brands Home & Security by 42.9% during the first quarter. Signaturefd LLC now owns 923 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 277 shares during the last quarter. Institutional investors and hedge funds own 88.19% of the company’s stock.

Fortune Brands Home & Security Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Shareholders of record on Friday, August 26th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, August 25th. Fortune Brands Home & Security’s dividend payout ratio is presently 19.93%.

Fortune Brands Home & Security Company Profile

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Fortune Brands Home & Security, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications. It operates in three segments: Plumbing, Outdoors & Security, and Cabinets. The Plumbing segment manufactures, assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, and Shaws brands in the United States, China, Canada, Mexico, Southeast Asia, Europe, and South America directly through its own sales force, as well as through independent manufacturers' representatives to wholesalers, home centers, mass merchandisers, and industrial distributors.