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

Newell Brands (NASDAQ:NWL) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.180-0.210 for the period, compared to the consensus earnings per share 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 weighed in on NWL. Raymond James cut Newell Brands from an outperform rating to a market perform rating in a research report on Monday, February 12th. Barclays increased their price objective on Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a research report on Tuesday, January 16th. Royal Bank of Canada decreased 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. Morgan Stanley decreased their price objective 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, JPMorgan Chase & Co. increased their price objective on Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Newell Brands currently has a consensus rating of Hold and an average target price of $9.13.

Newell Brands Price Performance

NWL stock traded up $0.85 during midday trading on Friday, hitting $7.79. 9,823,179 shares of the stock were exchanged, compared to its average volume of 5,106,179. The stock’s 50-day moving average price is $7.49 and its 200-day moving average price 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 $3.23 billion, a price-to-earnings ratio of -8.20, 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 earnings results on Friday, February 9th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $1.98 billion. Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. Newell Brands’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the business 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. Shareholders of record on Thursday, February 29th were given 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 yield of 3.59%. Newell Brands’s payout ratio is -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.