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

Newell Brands (NASDAQ:NWL - Get Free Report) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.180-0.210 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays increased their price objective on Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, January 16th. UBS Group lowered Newell Brands from a buy rating to a neutral rating and lowered their target price for the company from $10.00 to $8.50 in a report on Friday, February 16th. Morgan Stanley lowered 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. Royal Bank of Canada lowered 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. Finally, Citigroup lowered 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Newell Brands currently has a consensus rating of Hold and a consensus price target of $9.13.

Newell Brands Price Performance

Shares of Newell Brands stock traded up $0.85 during midday trading on Friday, hitting $7.79. 9,823,179 shares of the company were exchanged, compared to its average volume of 5,106,179. 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 market cap of $3.23 billion, a P/E ratio of -8.20, a PEG ratio of 1.39 and a beta of 0.95. Newell Brands has a 52 week low of $6.49 and a 52 week high of $12.31. The firm has a 50 day simple moving average of $7.49 and a 200-day simple moving average of $7.73.

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

Newell Brands Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.59%. Newell Brands's payout ratio is currently -29.47%.

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.