Newell Brands (NASDAQ:NWL – Get Free Report) 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 0.770. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.7 billion. Newell Brands also updated its FY24 guidance to $0.52-$0.62 EPS.
Analyst Ratings Changes
Several research firms recently issued reports on NWL. Royal Bank of Canada reduced their target price on shares of Newell Brands from $12.00 to $9.00 and set a sector perform rating for the company in a report on Monday, October 30th. Raymond James lowered shares of Newell Brands from an outperform rating to a market perform rating in a report on Monday. StockNews.com raised shares of Newell Brands from a sell rating to a hold rating in a report on Friday, December 15th. Barclays increased their price objective on shares of Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, January 16th. Finally, TheStreet lowered shares of Newell Brands from a c- rating to a d rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Newell Brands has a consensus rating of Hold and a consensus price target of $9.55.
Newell Brands Stock Down 18.9 %
Newell Brands (NASDAQ:NWL – Get Free Report) last posted its earnings results on Friday, February 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $1.98 billion. Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. As a group, equities analysts predict that Newell Brands will post 0.57 EPS for the current fiscal year.
Institutional Trading of Newell Brands
Institutional investors have recently bought and sold shares of the stock. Fairfield Bush & CO. bought a new stake in shares of Newell Brands during the first quarter worth $26,000. HighTower Advisors LLC lifted its position in shares of Newell Brands by 4.5% during the first quarter. HighTower Advisors LLC now owns 18,847 shares of the company’s stock worth $401,000 after purchasing an additional 808 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Newell Brands by 5.0% during the first quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock worth $269,000 after purchasing an additional 593 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Newell Brands by 23.2% during the first quarter. MetLife Investment Management LLC now owns 103,044 shares of the company’s stock worth $2,206,000 after purchasing an additional 19,395 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of Newell Brands by 57.9% during the first quarter. Panagora Asset Management Inc. now owns 78,161 shares of the company’s stock worth $1,673,000 after purchasing an additional 28,656 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.
About Newell Brands
Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company 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 connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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