Newell Brands (NASDAQ:NWL – Get Free Report) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.52-$0.62 for the period, compared to the consensus estimate of $0.57. The company issued revenue guidance of $7.48-$7.73 billion, compared to the consensus revenue estimate of $7.62 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.
Analyst Ratings Changes
A number of brokerages recently weighed in on NWL. Citigroup lowered their target price on shares of Newell Brands from $9.00 to $7.50 and set a neutral rating on the stock in a report on Monday, February 12th. Morgan Stanley lowered their target price on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating on the stock in a report on Monday, February 12th. UBS Group downgraded shares of Newell Brands from a buy rating to a neutral rating and lowered their target price for the stock from $10.00 to $8.50 in a report on Friday, February 16th. Barclays boosted their target price on shares of Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a report on Tuesday, January 16th. Finally, Raymond James cut shares of Newell Brands from an outperform rating to a market perform rating in a research 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $9.13.
View Our Latest Stock Report on NWL
Newell Brands Stock Performance
Newell Brands (NASDAQ:NWL – Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Newell Brands’s revenue was down 5.8% compared to the same quarter last year. Equities analysts forecast that Newell Brands will post 0.56 earnings per share for the current year.
Newell Brands Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Wednesday, February 28th. Newell Brands’s 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.
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