Newell Brands Inc. (NASDAQ:NWL) Expected to Earn Q2 2024 Earnings of $0.21 Per Share

Newell Brands Inc. (NASDAQ:NWL - Free Report) - Equities research analysts at Zacks Research lowered their Q2 2024 earnings per share estimates for Newell Brands in a report released on Friday, May 17th. Zacks Research analyst R. Lohia now anticipates that the company will post earnings per share of $0.21 for the quarter, down from their prior estimate of $0.24. The consensus estimate for Newell Brands' current full-year earnings is $0.60 per share. Zacks Research also issued estimates for Newell Brands' FY2024 earnings at $0.60 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.24 EPS, FY2025 earnings at $0.79 EPS, Q1 2026 earnings at $0.07 EPS and FY2026 earnings at $0.96 EPS.

NWL has been the subject of a number of other reports. Royal Bank of Canada lowered their price objective on shares of 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. Morgan Stanley dropped their price objective on shares of Newell Brands from $8.50 to $7.75 and set an "equal weight" rating for the company in a report on Monday, February 12th. UBS Group lowered shares of Newell Brands from a "buy" rating to a "neutral" rating and cut their price target for the stock from $10.00 to $8.50 in a report on Friday, February 16th. Wells Fargo & Company raised their target price on Newell Brands from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Monday, April 29th. Finally, Canaccord Genuity Group lifted their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8.70.

Newell Brands Price Performance

Shares of NWL traded up $0.11 during midday trading on Monday, hitting $8.22. The company's stock had a trading volume of 3,954,365 shares, compared to its average volume of 4,884,136. Newell Brands has a one year low of $6.49 and a one year high of $11.61. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. The company's fifty day simple moving average is $7.65 and its two-hundred day simple moving average is $7.86. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -11.49, a price-to-earnings-growth ratio of 1.51 and a beta of 0.95.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.07). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The firm's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS.

Institutional Trading of Newell Brands

Several hedge funds have recently bought and sold shares of NWL. State of New Jersey Common Pension Fund D lifted its stake in Newell Brands by 39.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 329,711 shares of the company's stock valued at $2,862,000 after acquiring an additional 93,791 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its position in Newell Brands by 20.9% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 55,998 shares of the company's stock worth $506,000 after purchasing an additional 9,662 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Newell Brands by 1,213.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 470,989 shares of the company's stock valued at $4,253,000 after buying an additional 435,133 shares during the last quarter. FMR LLC lifted its position in shares of Newell Brands by 481.6% during the 3rd quarter. FMR LLC now owns 5,406,274 shares of the company's stock worth $48,819,000 after buying an additional 4,476,644 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Newell Brands by 88,271.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 162,604 shares of the company's stock worth $1,411,000 after buying an additional 162,420 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company's stock.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.41%. Newell Brands's dividend payout ratio (DPR) is presently -38.89%.

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.