Newell Brands (NASDAQ:NWL) Issues 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.

Analyst Ratings Changes

Several research firms have recently commented on NWL. UBS Group cut shares of Newell Brands from a buy rating to a neutral rating and lowered their price target for the company from $10.00 to $8.50 in a report on Friday, February 16th. Citigroup decreased their price objective on shares of Newell Brands from $9.00 to $7.50 and set a neutral rating on the stock in a research note on Monday, February 12th. Barclays upped their price objective on shares of Newell Brands from $5.00 to $6.00 and gave the stock an underweight rating in a research note on Tuesday, January 16th. Royal Bank of Canada decreased their price target on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $9.13.

Newell Brands Stock Up 12.2 %

Shares of NASDAQ:NWL opened at $7.79 on Friday. Newell Brands has a 12 month low of $6.49 and a 12 month high of $12.31. The company’s fifty day simple moving average is $7.49 and its 200 day simple moving average is $7.73. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.63 and a current ratio of 1.16.

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

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, February 28th. Newell Brands’s dividend payout ratio (DPR) is presently -29.47%.

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.