Newell Brands (NASDAQ:NWL) Updates Q2 Earnings Guidance

Newell Brands (NASDAQ:NWL) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.18-$0.21 for the period, compared to the consensus earnings per share 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.

Newell Brands Stock Up 12.2 %

NWL stock opened at $7.79 on Monday. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. The company has a fifty day moving average price of $7.49 and a two-hundred day moving average price of $7.74. Newell Brands has a one year low of $6.49 and a one year high of $12.31.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, April 26th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts anticipate that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Dividend Announcement

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 was Wednesday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.59%. Newell Brands’s payout ratio is presently -38.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NWL shares. Morgan Stanley reduced their target price on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a research report on Monday, February 12th. UBS Group cut shares of 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 research report on Friday, February 16th. 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 report on Tuesday, January 16th. Raymond James cut shares of Newell Brands from an outperform rating to a market perform rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. boosted their target price on Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Newell Brands has an average rating of Hold and a consensus target price of $9.13.

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.