Newell Brands (NASDAQ:NWL – Get Free Report) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $0.60-0.65 for the period, compared to the consensus earnings per share estimate of $0.60. Newell Brands also updated its FY 2024 guidance to 0.600-0.650 EPS.
Newell Brands Stock Performance
NWL stock traded up $2.57 during trading on Friday, hitting $8.91. 26,323,587 shares of the company traded hands, compared to its average volume of 4,567,726. The stock’s 50-day simple moving average is $6.90 and its 200 day simple moving average is $7.48. Newell Brands has a 1 year low of $5.39 and a 1 year high of $11.61. The company has a market cap of $3.70 billion, a PE ratio of -12.38, a P/E/G ratio of 1.66 and a beta of 0.89. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.15 and a quick ratio of 0.58.
Newell Brands (NASDAQ:NWL – Get Free Report) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.15. Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, equities analysts expect that Newell Brands will post 0.62 earnings per share for the current fiscal year.
Newell Brands Announces Dividend
Analyst Ratings Changes
Several research analysts have recently commented on NWL shares. Wells Fargo & Company lowered their price objective on shares of Newell Brands from $8.00 to $6.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Barclays upgraded shares of Newell Brands from an underweight rating to an equal weight rating and set a $8.00 price target for the company in a research note on Tuesday, May 14th. Citigroup reduced their price objective on Newell Brands from $8.00 to $6.25 and set a neutral rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lowered their price objective on Newell Brands from $8.00 to $7.00 and set a neutral rating for the company in a research report on Monday, July 22nd. Finally, Canaccord Genuity Group raised their target price on shares of Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a report on Monday, April 29th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Newell Brands has a consensus rating of Hold and an average target price of $8.18.
Read Our Latest Analysis on Newell Brands
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.
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