Newell Brands (NASDAQ:NWL) Updates Q4 2024 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.110-0.140 for the period, compared to the consensus earnings per share estimate of 0.130. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $2.0 billion. Newell Brands also updated its FY 2024 guidance to 0.630-0.660 EPS.

Newell Brands Trading Up 21.6 %

Newell Brands stock traded up $1.55 during mid-day trading on Friday, hitting $8.73. The stock had a trading volume of 21,253,426 shares, compared to its average volume of 5,488,259. The stock has a 50-day simple moving average of $7.44 and a two-hundred day simple moving average of $7.32. The stock has a market capitalization of $3.62 billion, a PE ratio of -12.13, a P/E/G ratio of 1.31 and a beta of 0.91. Newell Brands has a 12 month low of $5.39 and a 12 month high of $9.24. The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 1.32.

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

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.21%. The ex-dividend date was Friday, August 30th. Newell Brands’s dividend payout ratio is -38.89%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NWL. Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Truist Financial increased their target price on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group increased their target price on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased 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. Finally, JPMorgan Chase & Co. dropped their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.80.

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.