Fortune Brands Innovations (NYSE:FBIN) Issues Quarterly Earnings Results

Key Points

• Fortune Brands Innovations reported quarterly earnings of $1.00 per share, surpassing the consensus estimate of $0.98, with revenues of $1.20 billion, slightly above expectations of $1.19 billion.
• The company has adjusted its fiscal year 2025 EPS guidance to a range of $3.750 to $3.950, despite a 3.0% decline in revenue compared to the same quarter last year.
• Fortune Brands Innovations announced a quarterly dividend of $0.25, translating to an annualized dividend of $1.00 and a yield of 1.8%, with the ex-dividend date set for August 22nd.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02, Zacks reports. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.78%. The company's revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. Fortune Brands Innovations updated its FY 2025 guidance to 3.750-3.950 EPS.

Fortune Brands Innovations Trading Up 2.4%

FBIN traded up $1.29 on Friday, hitting $55.83. The company had a trading volume of 2,927,671 shares, compared to its average volume of 1,879,814. The firm has a market cap of $6.71 billion, a P/E ratio of 17.56, a PEG ratio of 3.31 and a beta of 1.32. Fortune Brands Innovations has a 1 year low of $47.21 and a 1 year high of $90.54. The company's fifty day moving average price is $52.57 and its 200 day moving average price is $57.97. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 1.06.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's payout ratio is 31.45%.

Institutional Trading of Fortune Brands Innovations

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in Fortune Brands Innovations by 0.8% during the first quarter. Royal Bank of Canada now owns 41,713 shares of the company's stock worth $2,539,000 after purchasing an additional 324 shares during the period. Empowered Funds LLC increased its stake in Fortune Brands Innovations by 20.5% during the first quarter. Empowered Funds LLC now owns 10,335 shares of the company's stock worth $629,000 after purchasing an additional 1,761 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Fortune Brands Innovations by 83.6% during the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company's stock worth $52,000 after purchasing an additional 388 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FBIN. Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. UBS Group boosted their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research report on Friday. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $59.00 to $65.00 in a research report on Friday. Finally, Barclays boosted their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.40.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.

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