Newell Brands (NASDAQ:NWL) Releases FY 2024 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.520-0.620 for the period, compared to the consensus EPS estimate of 0.570. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Newell Brands also updated its FY24 guidance to $0.52-$0.62 EPS.

Newell Brands Price Performance

NWL opened at $7.49 on Friday. The stock’s 50-day moving average price is $7.48 and its 200 day moving average price is $7.73. The company has a current ratio of 1.16, a quick ratio of 0.63 and a debt-to-equity ratio of 1.47. Newell Brands has a 12-month low of $6.49 and a 12-month high of $12.31. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -7.31, a PEG ratio of 1.39 and a beta of 0.95.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the business earned ($0.06) EPS. Newell Brands’s revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.74%. Newell Brands’s payout ratio is currently -29.47%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James downgraded Newell Brands from an outperform rating to a market perform rating in a research note on Monday, February 12th. JPMorgan Chase & Co. raised their price target on Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a report on Tuesday, January 9th. Morgan Stanley reduced their price target on Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a report on Monday, February 12th. Citigroup reduced their price target on Newell Brands from $9.00 to $7.50 and set a neutral rating for the company in a report on Monday, February 12th. Finally, UBS Group downgraded Newell Brands from a buy rating to a neutral rating and dropped their price objective for the company from $10.00 to $8.50 in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued 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 $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.