Newell Brands (NASDAQ:NWL) Issues Q4 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its fourth quarter earnings guidance on Friday morning. The company provided EPS guidance of $0.11-$0.14 for the period, compared to the consensus EPS estimate of $0.13. The company issued revenue guidance of $1.95-$2.02 billion, compared to the consensus revenue estimate of $2.00 billion. Newell Brands also updated its FY 2024 guidance to 0.630-0.660 EPS.

Newell Brands Stock Performance

NWL stock traded up $1.55 during midday trading on Friday, reaching $8.73. 21,224,215 shares of the company were exchanged, compared to its average volume of 5,488,259. Newell Brands has a one year low of $5.39 and a one year high of $9.24. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -13.66, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91. The business has a 50-day moving average price of $7.41 and a two-hundred day moving average price of $7.31. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. Newell Brands’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. Equities research analysts forecast that Newell Brands will post 0.65 EPS for the current year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.07 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a yield of 3.21%. Newell Brands’s dividend payout ratio (DPR) is presently -43.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NWL. Wells Fargo & Company boosted their target price on shares of Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a report on Monday, July 29th. Truist Financial lifted their price target on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Citigroup downgraded Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada upped their target price on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Newell Brands has an average rating of “Hold” and an average price target of $8.80.

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.