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

Newell Brands (NASDAQ:NWL) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.520-0.620 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NWL shares. Raymond James cut shares of Newell Brands from an outperform rating to a market perform rating in a report on Monday, February 12th. 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 note on Tuesday, January 9th. Royal Bank of Canada reduced their target price on Newell Brands from $9.00 to $7.50 and set a sector perform rating for the company in a report on Monday, February 12th. UBS Group downgraded Newell Brands from a buy rating to a neutral rating and lowered their price target for the company from $10.00 to $8.50 in a report on Friday, February 16th. Finally, Barclays increased their price objective on Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Newell Brands presently has an average rating of Hold and a consensus target price of $9.13.

Newell Brands Price Performance

Shares of NASDAQ:NWL opened at $7.79 on Friday. The stock’s 50-day simple moving average is $7.49 and its two-hundred day simple moving average is $7.73. Newell Brands has a 52-week low of $6.49 and a 52-week high of $12.31. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.16 and a quick ratio of 0.63.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, February 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 EPS. As a group, equities analysts forecast that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 3.59%. Newell Brands’s dividend payout ratio (DPR) is -29.47%.

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.