Newell Brands (NASDAQ:NWL) Releases Q2 2024 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.180-0.210 for the period, compared to the consensus estimate of 0.250. The company issued revenue guidance of $2.0 billion-$2.1 billion, compared to the consensus revenue estimate of $2.0 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Newell Brands Price Performance

NWL opened at $7.79 on Friday. The business has a 50 day moving average of $7.49 and a 200-day moving average of $7.73. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.16 and a quick ratio of 0.63. Newell Brands has a 1-year low of $6.49 and a 1-year high of $12.31.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, February 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. On average, equities analysts expect that Newell Brands will post 0.56 EPS for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Wednesday, February 28th. Newell Brands’s dividend payout ratio (DPR) is presently -29.47%.

Analysts Set New Price Targets

Several research firms have commented on NWL. Royal Bank of Canada cut their price target on Newell Brands from $9.00 to $7.50 and set a sector perform rating for the company in a report on Monday, February 12th. UBS Group lowered Newell Brands from a buy rating to a neutral rating and cut their target price for the company from $10.00 to $8.50 in a research note on Friday, February 16th. JPMorgan Chase & Co. raised their target price on Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. Barclays boosted their price target on shares of Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, January 16th. Finally, Morgan Stanley reduced their price objective on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $9.13.

Newell Brands Company Profile

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.