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 (EPS) guidance of 0.180-0.210 for the period, compared to the consensus 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

Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Newell Brands from $9.00 to $7.50 and set a neutral rating for the company in a research report on Monday, February 12th. Barclays boosted their price objective on shares of Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a research report on Tuesday, January 16th. Raymond James downgraded shares of Newell Brands from an outperform rating to a market perform rating in a research report on Monday, February 12th. UBS Group downgraded shares of Newell Brands from a buy rating to a neutral rating and reduced their price objective for the stock from $10.00 to $8.50 in a research report on Friday, February 16th. Finally, Royal Bank of Canada reduced their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $9.13.

Newell Brands Price Performance

NASDAQ:NWL opened at $7.49 on Friday. The business’s 50-day moving average price is $7.48 and its 200 day moving average price is $7.73. The firm has a market cap of $3.11 billion, a P/E ratio of -7.31, a PEG ratio of 1.39 and a beta of 0.95. Newell Brands has a 52-week low of $6.49 and a 52-week high of $12.31. The company has a quick ratio of 0.63, a current ratio of 1.16 and a debt-to-equity ratio of 1.47.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 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 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. As a group, sell-side analysts predict that Newell Brands will post 0.56 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently disclosed 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 3.74%. Newell Brands’s payout ratio 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.