Newell Brands (NASDAQ:NWL) Issues Q1 2024 Earnings Guidance

Newell Brands (NASDAQ:NWLGet Free Report) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of -0.090–0.050 for the period, compared to the consensus earnings per share estimate of 0.020. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Newell Brands Stock Performance

NASDAQ NWL opened at $6.85 on Monday. Newell Brands has a 52-week low of $6.49 and a 52-week high of $15.60. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.63 and a current ratio of 1.16. The company has a market capitalization of $2.84 billion, a P/E ratio of -7.21 and a beta of 0.94. The company has a fifty day moving average of $8.44 and a 200-day moving average of $8.61.

Newell Brands (NASDAQ:NWLGet Free Report) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, equities research analysts predict that Newell Brands will post 0.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NWL shares. Raymond James downgraded shares of Newell Brands from an outperform rating to a market perform rating in a research note on Monday. 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 research report on Tuesday, January 9th. Truist Financial downgraded shares of Newell Brands from a buy rating to a hold rating and lowered their price objective for the company from $20.00 to $8.00 in a research report on Monday, October 30th. UBS Group increased their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a research report on Tuesday, January 9th. Finally, Morgan Stanley lowered their price objective on shares of Newell Brands from $11.00 to $8.50 and set an equal weight rating on the stock in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $9.55.

Check Out Our Latest Stock Report on Newell Brands

Hedge Funds Weigh In On Newell Brands

Several institutional investors have recently bought and sold shares of NWL. Vanguard Group Inc. lifted its holdings in shares of Newell Brands by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 43,445,148 shares of the company’s stock worth $930,160,000 after acquiring an additional 443,812 shares during the last quarter. State Street Corp lifted its holdings in shares of Newell Brands by 12.2% in the 1st quarter. State Street Corp now owns 25,151,594 shares of the company’s stock worth $312,886,000 after acquiring an additional 2,732,905 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Newell Brands by 39.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 11,259,689 shares of the company’s stock worth $97,959,000 after acquiring an additional 3,168,690 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Newell Brands by 9.1% in the 1st quarter. Geode Capital Management LLC now owns 8,928,637 shares of the company’s stock worth $111,058,000 after acquiring an additional 748,321 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Newell Brands by 13.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,099,740 shares of the company’s stock worth $75,873,000 after acquiring an additional 699,353 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Newell Brands Company Profile

(Get Free Report)

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

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Earnings History and Estimates for Newell Brands (NASDAQ:NWL)

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