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 guidance of $0.52-$0.62 for the period, compared to the consensus earnings per share 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 Performance

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

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the company earned $0.16 EPS. Newell Brands’s revenue was down 8.1% on a year-over-year basis. As a group, analysts expect that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Wednesday, February 28th. Newell Brands’s dividend payout ratio is -29.47%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NWL shares. Royal Bank of Canada reduced their price objective on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research note on Monday, February 12th. Barclays boosted their price objective 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. UBS Group downgraded shares of Newell Brands from a buy rating to a neutral rating and lowered their target price for the stock from $10.00 to $8.50 in a report on Friday, February 16th. Citigroup decreased their price objective on shares of Newell Brands from $9.00 to $7.50 and set a neutral rating on the stock in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.