Newell Brands (NASDAQ:NWL) Releases FY24 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.52-$0.62 for the period, compared to the consensus estimate of $0.57. The company issued revenue guidance of $7.48-$7.73 billion, compared to the consensus revenue estimate of $7.62 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Newell Brands Stock Up 12.2 %

Shares of NASDAQ:NWL opened at $7.79 on Monday. Newell Brands has a 12 month low of $6.49 and a 12 month high of $12.31. The firm’s 50-day moving average is $7.49 and its 200 day moving average is $7.74. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, April 26th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.64 billion. Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The firm’s revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. As a group, sell-side analysts expect that Newell Brands will post 0.56 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.28 annualized dividend and a yield of 3.59%. Newell Brands’s dividend payout ratio (DPR) is -38.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Raymond James cut shares of Newell Brands from an outperform rating to a market perform rating in a research report on Monday, February 12th. JPMorgan Chase & Co. boosted their price objective on shares of Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a research report on Tuesday, January 9th. UBS Group cut shares of Newell Brands from a buy rating to a neutral rating and lowered their price objective for the company from $10.00 to $8.50 in a research report on Friday, February 16th. Barclays upped their price target on shares of Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a research report on Tuesday, January 16th. Finally, Citigroup lowered their price target on shares of Newell Brands from $9.00 to $7.50 and set a neutral rating for the company in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Newell Brands currently has a consensus rating of Hold and an average price target of $9.13.

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.