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

Newell Brands (NASDAQ:NWL) issued an update on its second quarter 2024 earnings guidance on Friday morning. 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.

Newell Brands Price Performance

Shares of NWL traded up $0.85 during trading hours 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 capitalization of $3.23 billion, a PE ratio of -8.20, a PEG ratio of 1.39 and a beta of 0.95. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.16 and a quick ratio of 0.63. The firm has a fifty day simple moving average of $7.49 and a 200-day simple moving average of $7.73. Newell Brands has a one year low of $6.49 and a one year high of $12.31.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, February 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations 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 revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. As a group, sell-side analysts predict that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Announces Dividend

The firm also recently announced 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 of this dividend was Wednesday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 3.59%. Newell Brands’s dividend payout ratio (DPR) is presently -29.47%.

Analyst Ratings Changes

Several brokerages have recently commented on NWL. Royal Bank of Canada decreased their target price 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. Citigroup decreased their target price on Newell Brands from $9.00 to $7.50 and set a neutral rating for the company in a research 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. UBS Group lowered Newell Brands from a buy rating to a neutral rating and cut their price objective for the stock from $10.00 to $8.50 in a report on Friday, February 16th. Finally, Barclays increased their price objective on Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $9.13.

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.