Newell Brands (NASDAQ:NWL) Releases Q2 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.18-$0.21 for the period, compared to the consensus earnings per share estimate of $0.25. The company issued revenue guidance of $2.00-$2.05 billion, compared to the consensus revenue estimate of $2.03 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Newell Brands Stock Up 12.2 %

NASDAQ:NWL opened at $7.79 on Friday. Newell Brands has a 1 year low of $6.49 and a 1 year high of $12.31. 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 stock has a 50-day moving average price of $7.49 and a two-hundred day moving average price of $7.74.

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

Newell Brands Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 3.59%. Newell Brands’s dividend payout ratio is currently -38.89%.

Analyst Ratings Changes

Several research firms have recently weighed in on NWL. JPMorgan Chase & Co. upped their price objective on Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. Morgan Stanley dropped their target price on Newell Brands from $8.50 to $7.75 and set an equal weight rating on the stock in a report on Monday, February 12th. Citigroup dropped their target price on Newell Brands from $9.00 to $7.50 and set a neutral rating on the stock in a report on Monday, February 12th. Barclays upped their target price on Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a report on Tuesday, January 16th. Finally, Royal Bank of Canada dropped their target price on Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock 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.