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

Newell Brands (NASDAQ:NWL) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.180-0.210 for the period, compared to the consensus earnings per share 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 Stock Up 12.2 %

Shares of NASDAQ NWL opened at $7.79 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.16 and a quick ratio of 0.63. The firm has a fifty day moving average of $7.49 and a 200-day moving average of $7.73. Newell Brands has a 52-week low of $6.49 and a 52-week high of $12.31.

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

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors 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 annualized dividend and a yield of 3.59%. Newell Brands’s payout ratio is -29.47%.

Wall Street Analyst Weigh In

NWL has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a research note on Tuesday, January 9th. UBS Group cut shares of Newell Brands from a buy rating to a neutral rating and decreased their price target for the stock from $10.00 to $8.50 in a research report on Friday, February 16th. Citigroup cut their price objective on Newell Brands from $9.00 to $7.50 and set a neutral rating on the stock in a research report on Monday, February 12th. Royal Bank of Canada decreased their target price on Newell Brands from $9.00 to $7.50 and set a sector perform rating for the company in a research report on Monday, February 12th. Finally, Barclays increased their target price on Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a research note on Tuesday, January 16th. 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 company. Based on data from MarketBeat, the company presently 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.