Newell Brands (NASDAQ:NWL) Releases FY24 Earnings Guidance

Newell Brands (NASDAQ:NWLGet Free Report) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.52-$0.62 for the period, compared to the consensus estimate of $0.77. The company issued revenue guidance of $7.452-$7.614 billion, compared to the consensus revenue estimate of $7.70 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a research report on Tuesday, January 9th. Barclays raised their price objective on Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a research report on Tuesday, January 16th. Truist Financial downgraded Newell Brands from a buy rating to a hold rating and lowered their price objective for the stock from $20.00 to $8.00 in a research report on Monday, October 30th. UBS Group raised their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a buy rating in a research report on Tuesday, January 9th. Finally, Raymond James downgraded Newell Brands from an outperform rating to a market perform rating in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $9.55.

View Our Latest Stock Analysis on Newell Brands

Newell Brands Trading Down 18.9 %

Shares of NWL stock opened at $6.85 on Monday. The company has a market cap of $2.84 billion, a P/E ratio of -7.21 and a beta of 0.94. The stock has a 50 day simple moving average of $8.44 and a two-hundred day simple moving average of $8.61. 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 fifty-two week low of $6.49 and a fifty-two week high of $15.60.

Newell Brands (NASDAQ:NWLGet Free Report) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm posted $0.16 earnings per share. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. Research analysts forecast that Newell Brands will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Newell Brands

A number of hedge funds have recently added to or reduced their stakes in NWL. Fairfield Bush & CO. acquired a new stake in Newell Brands in the first quarter valued at approximately $26,000. HighTower Advisors LLC boosted 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 valued at $401,000 after buying an additional 808 shares during the last quarter. Private Advisor Group LLC boosted 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 valued at $269,000 after buying an additional 593 shares during the last quarter. MetLife Investment Management LLC boosted 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 valued at $2,206,000 after buying an additional 19,395 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted 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 valued at $1,673,000 after buying an additional 28,656 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

About Newell Brands

(Get Free Report)

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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Earnings History and Estimates for Newell Brands (NASDAQ:NWL)

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