Newell Brands (NASDAQ:NWL) Updates Q2 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its second quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.18-$0.21 for the period, compared to the consensus earnings per share 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 FY 2024 guidance to 0.520-0.620 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank of Canada reduced their price objective on 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. UBS Group cut Newell Brands from a buy rating to a neutral rating and reduced their price target for the company from $10.00 to $8.50 in a research report on Friday, February 16th. JPMorgan Chase & Co. increased 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. Morgan Stanley reduced their price target on Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a research report on Monday, February 12th. Finally, Barclays increased 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. 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 stock. According to data from MarketBeat, Newell Brands currently has a consensus rating of Hold and an average target price of $9.13.

Newell Brands Stock Performance

NASDAQ:NWL traded up $0.85 on Friday, hitting $7.79. The company’s stock had a trading volume of 9,823,179 shares, compared to its average volume of 5,106,179. The company has a current ratio of 1.16, a quick ratio of 0.63 and a debt-to-equity ratio of 1.47. The stock has a fifty day moving average of $7.49 and a two-hundred day moving average of $7.73. The firm has a market capitalization of $3.23 billion, a P/E ratio of -8.20, a price-to-earnings-growth ratio of 1.39 and a beta of 0.95. Newell Brands has a one year low of $6.49 and a one year high of $12.31.

Newell Brands (NASDAQ:NWL) last released 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. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $1.98 billion. Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 earnings per share. Research analysts predict that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.59%. Newell Brands’s dividend payout ratio (DPR) 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.