Fortune Brands Innovations (NYSE:FBIN – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04, Briefing.com reports. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a return on equity of 23.10% and a net margin of 9.39%. Fortune Brands Innovations’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. Fortune Brands Innovations updated its FY24 guidance to $4.25-$4.35 EPS and its FY 2024 guidance to 4.250-4.350 EPS.
Fortune Brands Innovations Stock Up 9.1 %
Shares of FBIN stock traded up $6.57 during trading hours on Friday, reaching $78.74. 3,359,184 shares of the company’s stock were exchanged, compared to its average volume of 1,580,916. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.40 and a beta of 1.52. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. Fortune Brands Innovations has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The stock’s 50 day moving average is $68.23 and its 200-day moving average is $74.83.
Fortune Brands Innovations Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, August 23rd. Fortune Brands Innovations’s payout ratio is presently 29.36%.
Analysts Set New Price Targets
Check Out Our Latest Analysis on FBIN
About Fortune Brands Innovations
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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