Newell Brands (NASDAQ:NWL – Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.520-0.620 for the period, compared to the consensus estimate of 0.570. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Newell Brands also updated its FY24 guidance to $0.52-$0.62 EPS.
Newell Brands Price Performance
NWL stock opened at $7.79 on Monday. The stock’s 50 day simple moving average is $7.49 and its 200 day simple moving average is $7.74. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. Newell Brands has a 12-month low of $6.49 and a 12-month high of $12.31.
Newell Brands (NASDAQ:NWL – Get Free Report) last released its quarterly earnings data on Friday, April 26th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. Newell Brands’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. Research analysts expect that Newell Brands will post 0.56 earnings per share for the current fiscal year.
Newell Brands Dividend Announcement
Analyst Upgrades and Downgrades
Several research analysts have weighed in on NWL shares. UBS Group downgraded shares of Newell Brands from a buy rating to a neutral rating and decreased their price target for the stock from $10.00 to $8.50 in a research report on Friday, February 16th. Morgan Stanley cut their price target on Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a report on Monday, February 12th. Raymond James cut Newell Brands from an outperform rating to a market perform rating in a research report on Monday, February 12th. Barclays lifted their price objective on Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $9.13.
Check Out Our Latest Stock Report on Newell Brands
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.
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