FY2024 Earnings Estimate for Newell Brands Inc. Issued By Jefferies Financial Group (NASDAQ:NWL)

Newell Brands Inc. (NASDAQ:NWL – Get Rating) – Research analysts at Jefferies Financial Group cut their FY2024 earnings estimates for shares of Newell Brands in a note issued to investors on Sunday, July 31st. Jefferies Financial Group analyst K. Grundy now expects that the company will post earnings per share of $2.82 for the year, down from their prior estimate of $2.97. The consensus estimate for Newell Brands’ current full-year earnings is $1.84 per share.

Newell Brands (NASDAQ:NWL – Get Rating) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.54 billion. Newell Brands had a net margin of 6.89% and a return on equity of 19.96%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share.

NWL has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Newell Brands from $25.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, June 21st. Raymond James restated a “maintains” rating on shares of Newell Brands in a research note on Monday, July 25th. TheStreet upgraded shares of Newell Brands from a “c+” rating to a “b” rating in a research note on Friday, April 29th. Barclays lowered their target price on shares of Newell Brands from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company decreased their target price on shares of Newell Brands from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Newell Brands has a consensus rating of “Hold” and an average target price of $23.86.

Newell Brands Stock Performance

Shares of NASDAQ:NWL opened at $19.81 on Wednesday. The firm has a market cap of $8.19 billion, a PE ratio of 11.65 and a beta of 0.75. The firm’s 50 day simple moving average is $19.77 and its 200-day simple moving average is $21.71. Newell Brands has a one year low of $17.40 and a one year high of $26.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.48 and a current ratio of 1.03.

Institutional Trading of Newell Brands

Large investors have recently bought and sold shares of the business. National Bank of Canada FI acquired a new position in shares of Newell Brands in the 4th quarter worth approximately $140,000. Bessemer Group Inc. lifted its holdings in Newell Brands by 17.5% during the 4th quarter. Bessemer Group Inc. now owns 16,764 shares of the company’s stock worth $366,000 after buying an additional 2,493 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Newell Brands during the 4th quarter worth approximately $823,000. Yousif Capital Management LLC acquired a new stake in Newell Brands during the 4th quarter worth approximately $1,271,000. Finally, Xponance Inc. lifted its holdings in Newell Brands by 22.5% during the 4th quarter. Xponance Inc. now owns 23,435 shares of the company’s stock worth $512,000 after buying an additional 4,309 shares in the last quarter. Hedge funds and other institutional investors own 84.07% of the company’s stock.

Newell Brands Company Profile

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Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

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