Fortune Brands Innovations (FBIN) to Release Quarterly Earnings on Tuesday

Fortune Brands Innovations (NYSE:FBIN) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Fortune Brands Innovations has set its FY24 guidance at $4.20-4.40 EPS and its FY 2024 guidance at 4.200-4.400 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts expect Fortune Brands Innovations to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $74.18 on Friday. The business’s fifty day moving average price is $79.71 and its 200 day moving average price is $73.97. The stock has a market capitalization of $9.32 billion, a P/E ratio of 23.40, a PEG ratio of 2.08 and a beta of 1.57. Fortune Brands Innovations has a twelve month low of $54.10 and a twelve month high of $84.92. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16.

Insider Transactions at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, the director now directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

FBIN has been the topic of a number of recent research reports. BMO Capital Markets restated a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Barclays boosted their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Robert W. Baird reduced their price objective on Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Finally, Oppenheimer initiated coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $78.44.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.