Newell Brands (NASDAQ:NWL) Issues Q1 Earnings Guidance

Newell Brands (NASDAQ:NWLGet Free Report) updated its first quarter earnings guidance on Friday. The company provided EPS guidance of ($0.09)-($0.05) for the period, compared to the consensus EPS estimate of $0.02. The company issued revenue guidance of $1.624-$1.661 billion, compared to the consensus revenue estimate of $1.68 billion. Newell Brands also updated its FY 2024 guidance to 0.520-0.620 EPS.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TheStreet lowered Newell Brands from a c- rating to a d rating in a report on Friday, October 27th. UBS Group increased their price objective on Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. increased their price objective on Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a report on Tuesday, January 9th. StockNews.com raised Newell Brands from a sell rating to a hold rating in a report on Friday, December 15th. Finally, Raymond James lowered Newell Brands from an outperform rating to a market perform rating in a report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $9.55.

View Our Latest Stock Report on NWL

Newell Brands Trading Down 18.9 %

NASDAQ:NWL opened at $6.85 on Monday. The company has a market cap of $2.84 billion, a P/E ratio of -7.21 and a beta of 0.94. The stock’s fifty day moving average price is $8.44 and its two-hundred day moving average price is $8.61. Newell Brands has a 1 year low of $6.49 and a 1 year high of $15.60. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.16 and a quick ratio of 0.63.

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

Institutional Investors Weigh In On Newell Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Fairfield Bush & CO. purchased a new stake in Newell Brands during the first quarter valued at about $26,000. HighTower Advisors LLC grew its stake in shares of Newell Brands by 4.5% during the first quarter. HighTower Advisors LLC now owns 18,847 shares of the company’s stock valued at $401,000 after buying an additional 808 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Newell Brands by 5.0% during the first quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock valued at $269,000 after buying an additional 593 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Newell Brands by 23.2% during the first quarter. MetLife Investment Management LLC now owns 103,044 shares of the company’s stock valued at $2,206,000 after buying an additional 19,395 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Newell Brands by 57.9% during the first quarter. Panagora Asset Management Inc. now owns 78,161 shares of the company’s stock valued at $1,673,000 after buying an additional 28,656 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

About Newell Brands

(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.

Further Reading

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

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