Fortune Brands Innovations (NYSE:FBIN) Announces 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 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. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. Fortune Brands Innovations updated its FY 2025 guidance to 3.750-3.950 EPS.

Fortune Brands Innovations Stock Down 0.4%

Shares of Fortune Brands Innovations stock traded down $0.26 during trading on Wednesday, reaching $56.54. The stock had a trading volume of 596,078 shares, compared to its average volume of 2,019,095. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 3.47 and a beta of 1.32. The stock has a fifty day moving average price of $52.79 and a two-hundred day moving average price of $57.72. Fortune Brands Innovations has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend 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

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Fortune Brands Innovations by 0.8% in the first quarter. Royal Bank of Canada now owns 41,713 shares of the company's stock valued at $2,539,000 after acquiring an additional 324 shares during the last quarter. Empowered Funds LLC increased its position in shares of Fortune Brands Innovations by 20.5% in the first quarter. Empowered Funds LLC now owns 10,335 shares of the company's stock valued at $629,000 after acquiring an additional 1,761 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Fortune Brands Innovations by 83.6% in the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company's stock valued at $52,000 after acquiring an additional 388 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Royal Bank Of Canada upgraded Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Loop Capital reaffirmed a "hold" rating and set a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Robert W. Baird lowered their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group lifted their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of "Moderate Buy" and an average target price of $75.91.

Fortune Brands Innovations Company Profile

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.