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 (EPS) guidance of $0.18-$0.21 for the period, compared to the consensus 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 FY24 guidance to $0.52-$0.62 EPS.

Newell Brands Stock Down 1.4 %

Shares of NWL stock opened at $6.94 on Friday. Newell Brands has a 12 month low of $6.49 and a 12 month high of $12.31. The firm has a market cap of $2.88 billion, a PE ratio of -7.31, a price-to-earnings-growth ratio of 1.39 and a beta of 0.95. The stock has a 50 day moving average of $7.48 and a 200-day moving average of $7.73. The company has a quick ratio of 0.63, a current ratio of 1.16 and a debt-to-equity ratio of 1.47.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, April 26th. The company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $1.70 billion during the quarter, compared to analyst estimates 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 was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, equities analysts predict that Newell Brands will post 0.56 EPS for the current year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.07 dividend. 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 4.03%. Newell Brands’s payout ratio is -29.47%.

Analyst Ratings Changes

A number of brokerages recently commented on NWL. UBS Group lowered Newell Brands from a buy rating to a neutral rating and cut their target price for the company from $10.00 to $8.50 in a research note on Friday, February 16th. Raymond James cut Newell Brands from an outperform rating to a market perform rating in a research report on Monday, February 12th. Barclays upped their price target on Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a research report on Tuesday, January 16th. Morgan Stanley lowered their price target on Newell Brands from $8.50 to $7.75 and set an equal weight rating on the stock in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Newell Brands currently has a consensus rating of Hold and a consensus 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.