Newell Brands (NASDAQ:NWL) Updates FY24 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $0.52-$0.62 for the period, compared to the consensus earnings per share estimate of $0.57. The company issued revenue guidance of $7.48-$7.73 billion, compared to the consensus revenue estimate of $7.62 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Analysts Set New Price Targets

A number of research firms recently weighed in on NWL. Morgan Stanley dropped their target price on Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a research report on Monday, February 12th. Citigroup reduced their target price on Newell Brands from $9.00 to $7.50 and set a neutral rating on the stock in a research note on Monday, February 12th. Raymond James cut Newell Brands from an outperform rating to a market perform rating in a research note on Monday, February 12th. Royal Bank of Canada reduced their price target on Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research note on Monday, February 12th. Finally, UBS Group downgraded Newell Brands from a buy rating to a neutral rating and reduced their price target for the company from $10.00 to $8.50 in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $9.13.

Newell Brands Price Performance

Shares of NASDAQ:NWL opened at $7.79 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.16 and a quick ratio of 0.63. 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.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, February 9th. The company reported $0.22 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm earned $0.16 EPS. The business’s quarterly revenue was down 8.1% on a year-over-year basis. As a group, equities analysts forecast that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Announces Dividend

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

Newell Brands Company Profile

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.