Newell Brands (NASDAQ:NWL) Issues Q3 2022 Earnings Guidance

Newell Brands (NASDAQ:NWLGet Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.46-$0.51 for the period, compared to the consensus estimate of $0.53. The company issued revenue guidance of $2.21 billion-$2.32 billion, compared to the consensus revenue estimate of $2.52 billion. Newell Brands also updated its FY 2022 guidance to $1.56-$1.70 EPS.

Newell Brands Stock Performance

NASDAQ NWL opened at $15.61 on Wednesday. Newell Brands has a 1-year low of $15.42 and a 1-year high of $26.45. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.03 and a quick ratio of 0.48. The stock’s 50 day simple moving average is $19.23 and its 200-day simple moving average is $20.55. The company has a market cap of $6.46 billion, a PE ratio of 9.18 and a beta of 0.76.

Newell Brands (NASDAQ:NWLGet Rating) last issued its earnings results on Friday, July 29th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.54 billion. Newell Brands had a net margin of 6.89% and a return on equity of 19.96%. Newell Brands’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. As a group, equities research analysts anticipate that Newell Brands will post 1.63 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend was Tuesday, August 30th. Newell Brands’s dividend payout ratio (DPR) is 54.12%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Newell Brands from $19.00 to $18.00 and set an equal weight rating for the company in a report on Monday, September 12th. Jefferies Financial Group reduced their price objective on Newell Brands from $34.00 to $28.00 and set a buy rating on the stock in a research note on Wednesday, September 14th. Wells Fargo & Company cut their price target on Newell Brands from $20.00 to $18.00 and set an equal weight rating on the stock in a report on Wednesday, September 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on Newell Brands from $21.00 to $17.00 in a research report on Wednesday, September 7th. Finally, Raymond James reduced their target price on shares of Newell Brands from $26.00 to $23.00 in a report on Wednesday, September 7th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Newell Brands has a consensus rating of Moderate Buy and an average target price of $22.00.

Insider Transactions at Newell Brands

In other news, Director Brett Icahn sold 71,304 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $16.89, for a total transaction of $1,204,324.56. Following the completion of the sale, the director now directly owns 953,003 shares in the company, valued at approximately $16,096,220.67. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Newell Brands news, Director Courtney Mather sold 50,000 shares of Newell Brands stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $18.17, for a total transaction of $908,500.00. Following the completion of the transaction, the director now owns 10,691 shares in the company, valued at $194,255.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brett Icahn sold 71,304 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $16.89, for a total transaction of $1,204,324.56. Following the transaction, the director now directly owns 953,003 shares of the company’s stock, valued at $16,096,220.67. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its holdings in Newell Brands by 6.6% in the 1st quarter. State Street Corp now owns 21,398,665 shares of the company’s stock valued at $458,145,000 after acquiring an additional 1,330,465 shares during the last quarter. UBS Group AG boosted its stake in Newell Brands by 55.3% in the 1st quarter. UBS Group AG now owns 1,315,639 shares of the company’s stock worth $28,168,000 after buying an additional 468,313 shares during the last quarter. FMR LLC grew its holdings in Newell Brands by 50.6% in the 2nd quarter. FMR LLC now owns 1,367,336 shares of the company’s stock valued at $26,034,000 after buying an additional 459,378 shares during the period. Vanguard Group Inc. grew its holdings in Newell Brands by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 43,445,148 shares of the company’s stock valued at $930,160,000 after buying an additional 443,812 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of Newell Brands by 120.4% during the 1st quarter. Lazard Asset Management LLC now owns 736,567 shares of the company’s stock worth $15,769,000 after acquiring an additional 402,365 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Newell Brands Company Profile

(Get Rating)

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It 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 home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, 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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