Fortune Brands Innovations (NYSE:FBIN – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.200-4.400 for the period, compared to the consensus earnings per share estimate of 4.290. The company issued revenue guidance of $4.8 billion-$4.9 billion, compared to the consensus revenue estimate of $4.9 billion. Fortune Brands Innovations also updated its FY24 guidance to $4.20 to $4.40 EPS.
Fortune Brands Innovations Stock Performance
NYSE:FBIN traded down $2.15 on Tuesday, hitting $73.10. The company’s stock had a trading volume of 1,238,839 shares, compared to its average volume of 1,065,721. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16. The stock has a fifty day moving average of $79.63 and a two-hundred day moving average of $74.16. The firm has a market capitalization of $9.19 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 2.11 and a beta of 1.57. Fortune Brands Innovations has a one year low of $54.10 and a one year high of $84.92.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last announced its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share. Research analysts predict that Fortune Brands Innovations will post 4.27 earnings per share for the current year.
Wall Street Analyst Weigh In
View Our Latest Report on Fortune Brands Innovations
Insider Buying and Selling
In related news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the sale, the director now owns 2,435 shares in the company, valued at $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.99% of the stock is currently owned by corporate insiders.
Fortune Brands Innovations Company Profile
Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.
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