Newell Brands (NASDAQ:NWL) Releases Q2 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its second quarter earnings guidance on Friday. 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 FY 2024 guidance to 0.520-0.620 EPS.

Analysts Set New Price Targets

Several brokerages have weighed in on NWL. Citigroup reduced their price objective on Newell Brands from $9.00 to $7.50 and set a neutral rating for the company in a report on Monday, February 12th. 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 report on Monday, February 12th. Raymond James lowered Newell Brands from an outperform rating to a market perform rating in a report on Monday, February 12th. Morgan Stanley reduced their price objective on Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a report on Monday, February 12th. Finally, Barclays increased their price objective on Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $9.13.

Newell Brands Stock Performance

Shares of NASDAQ:NWL traded up $0.85 during trading on Friday, hitting $7.79. 9,823,179 shares of the company were exchanged, compared to its average volume of 5,106,179. The company has a market cap of $3.23 billion, a PE ratio of -8.20, a P/E/G ratio of 1.39 and a beta of 0.95. The stock has a 50 day moving average of $7.49 and a 200 day moving average of $7.73. Newell Brands has a 52-week low of $6.49 and a 52-week high of $12.31. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.16 and a quick ratio of 0.63.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, February 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business posted $0.16 earnings per share. The business’s quarterly revenue was down 8.1% on a year-over-year basis. As a group, equities research analysts predict that Newell Brands will post 0.56 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors 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 3.59%. Newell Brands’s dividend payout ratio (DPR) is presently -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.