Fortune Brands Innovations (NYSE:FBIN – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.20 to $4.40 for the period, compared to the consensus estimate of $4.29. The company issued revenue guidance of approx $4.79 billion to $4.88 billion, compared to the consensus revenue estimate of $4.85 billion.
Analyst Ratings Changes
A number of research analysts recently weighed in on FBIN shares. Barclays raised their target price on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an overweight rating in a report on Wednesday, January 31st. Robert W. Baird lowered their price objective on Fortune Brands Innovations from $86.00 to $85.00 and set a neutral rating for the company in a research note on Thursday, April 18th. Oppenheimer initiated coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They set a market perform rating on the stock. Finally, BMO Capital Markets reiterated a market perform rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations currently has an average rating of Hold and a consensus target price of $79.25.
View Our Latest Report on FBIN
Fortune Brands Innovations Stock Performance
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. Analysts anticipate that Fortune Brands Innovations will post 4.27 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the transaction, the director now directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.99% of the stock is owned by 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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