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

Newell Brands (NASDAQ:NWLGet Free Report) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 0.520-0.620 for the period, compared to the consensus EPS estimate of 0.770. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.7 billion. Newell Brands also updated its FY24 guidance to $0.52-$0.62 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NWL. UBS Group lifted their price target on Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a report on Tuesday, January 9th. Morgan Stanley cut their price target on Newell Brands from $11.00 to $8.50 and set an equal weight rating on the stock in a report on Tuesday, October 31st. Raymond James cut Newell Brands from an outperform rating to a market perform rating in a report on Monday. Truist Financial cut Newell Brands from a buy rating to a hold rating and dropped their target price for the stock from $20.00 to $8.00 in a report on Monday, October 30th. Finally, Royal Bank of Canada dropped their target price on Newell Brands from $12.00 to $9.00 and set a sector perform rating on the stock in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Newell Brands has a consensus rating of Hold and a consensus price target of $9.55.

Get Our Latest Analysis on NWL

Newell Brands Stock Down 18.9 %

Shares of NWL opened at $6.85 on Monday. The firm 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 50-day simple moving average of $8.44 and a 200-day simple moving average of $8.61. 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.

Newell Brands (NASDAQ:NWLGet Free Report) last posted 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 for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. On average, equities research analysts expect that Newell Brands will post 0.57 earnings per share for the current year.

Institutional Trading of Newell Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fairfield Bush & CO. bought a new stake in Newell Brands in the first quarter valued at about $26,000. Resources Management Corp CT ADV grew its stake in Newell Brands by 6,000.0% during the second quarter. Resources Management Corp CT ADV now owns 3,050 shares of the company’s stock worth $27,000 after buying an additional 3,000 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Newell Brands by 711.7% during the first quarter. Canada Pension Plan Investment Board now owns 4,107 shares of the company’s stock worth $88,000 after buying an additional 3,601 shares during the last quarter. Covestor Ltd grew its stake in Newell Brands by 195.8% during the first quarter. Covestor Ltd now owns 6,900 shares of the company’s stock worth $148,000 after buying an additional 4,567 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its stake in Newell Brands by 629.5% during the first quarter. Belpointe Asset Management LLC now owns 7,244 shares of the company’s stock worth $90,000 after buying an additional 6,251 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.

Read More

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

Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.