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

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NWL. Royal Bank of Canada cut their price target on Newell Brands from $9.00 to $7.50 and set a sector perform rating for the company in a report on Monday, February 12th. UBS Group lowered Newell Brands from a buy rating to a neutral rating and dropped their price objective for the company from $10.00 to $8.50 in a research note on Friday, February 16th. Barclays lifted their price objective on Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a research note on Tuesday, January 16th. Raymond James lowered Newell Brands from an outperform rating to a market perform rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $9.13.

Newell Brands Stock Performance

Newell Brands stock opened at $7.49 on Friday. The stock’s 50 day simple moving average is $7.48 and its two-hundred day simple moving average is $7.73. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.63 and a current ratio of 1.16. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -7.31, a PEG ratio of 1.39 and a beta of 0.95. Newell Brands has a fifty-two week low of $6.49 and a fifty-two week high of $12.31.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the firm posted ($0.06) EPS. The business’s revenue was down 5.8% on a year-over-year basis. As a group, analysts expect that Newell Brands will post 0.56 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.07 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.74%. Newell Brands’s dividend payout ratio is currently -29.47%.

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.