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

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

Newell Brands Price Performance

NWL stock traded up $0.85 during trading on Friday, hitting $7.79. 9,823,179 shares of the company’s stock traded hands, compared to its average volume of 5,106,179. 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 quick ratio of 0.63 and a current ratio of 1.16. The business has a fifty day simple moving average of $7.49 and a 200 day simple moving average of $7.73. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -8.20, a P/E/G ratio of 1.39 and a beta of 0.95.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, February 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business earned $0.16 earnings per share. Newell Brands’s quarterly revenue was down 8.1% compared to the same quarter last year. As a group, research analysts expect that Newell Brands will post 0.56 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.07 dividend. The ex-dividend date 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 presently -29.47%.

Wall Street Analysts Forecast Growth

NWL has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. Raymond James lowered shares of Newell Brands from an outperform rating to a market perform rating in a report on Monday, February 12th. Royal Bank of Canada lowered their target price on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating for the company in a report on Monday, February 12th. Barclays raised their target price on shares of Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a report on Tuesday, January 16th. Finally, UBS Group downgraded shares of Newell Brands from a buy rating to a neutral rating and reduced their price target for the stock from $10.00 to $8.50 in a research note on Friday, February 16th. One research 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. According to MarketBeat.com, Newell Brands has an average rating of Hold and a consensus price target of $9.13.

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.