Newell Brands (NASDAQ:NWL) Issues Q4 Earnings Guidance

Newell Brands (NASDAQ:NWL) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.11-$0.14 for the period, compared to the consensus earnings per share estimate of $0.13. The company issued revenue guidance of $1.95-$2.02 billion, compared to the consensus revenue estimate of $2.00 billion. Newell Brands also updated its FY 2024 guidance to 0.630-0.660 EPS.

Newell Brands Trading Up 21.6 %

Shares of NASDAQ NWL traded up $1.55 during mid-day trading on Friday, hitting $8.73. The company’s stock had a trading volume of 21,224,215 shares, compared to its average volume of 5,488,259. Newell Brands has a one year low of $5.39 and a one year high of $9.24. The company’s fifty day simple moving average is $7.41 and its 200-day simple moving average is $7.31. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of -13.66, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. On average, sell-side analysts anticipate that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Friday, August 30th. Newell Brands’s dividend payout ratio (DPR) is currently -43.08%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NWL. Canaccord Genuity Group increased their price target on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Truist Financial lifted their price target on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Newell Brands has an average rating of “Hold” and an average target price of $8.80.

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.