Newell Brands (NASDAQ:NWL – Get Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.46-$0.51 for the period, compared to the consensus EPS 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

Shares of Newell Brands stock traded up $0.20 during trading on Friday, hitting $14.17. 47,055 shares of the company's stock traded hands, compared to its average volume of 3,623,465. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.03 and a quick ratio of 0.48. Newell Brands has a 1 year low of $13.73 and a 1 year high of $26.45. The stock has a market capitalization of $5.86 billion, a P/E ratio of 8.22 and a beta of 0.76. The business has a 50-day simple moving average of $18.53 and a 200-day simple moving average of $20.20.

Newell Brands (NASDAQ:NWL – Get Rating) last posted its earnings results on Friday, July 29th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.10. Newell Brands had a return on equity of 19.96% and a net margin of 6.89%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the company earned $0.56 earnings per share. Newell Brands's revenue was down 7.7% on a year-over-year basis. As a group, analysts forecast that Newell Brands will post 1.63 EPS for the current year.

Newell Brands Announces Dividend

Wall Street Analyst Weigh In

Several research firms recently issued reports on NWL. Barclays cut their target price on Newell Brands from $19.00 to $18.00 and set an equal weight rating for the company in a research report on Monday, September 12th. UBS Group cut their price target on Newell Brands from $27.00 to $21.00 and set a buy rating for the company in a report on Wednesday, September 7th. Jefferies Financial Group cut their price target on Newell Brands from $34.00 to $28.00 and set a buy rating for the company in a report on Wednesday, September 14th. TheStreet cut Newell Brands from a b- rating to a c+ rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Newell Brands from $21.00 to $17.00 in a report on Wednesday, September 7th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $22.00.

Insider Buying and Selling at Newell Brands

In other news, Director Courtney Mather sold 50,000 shares of the business's stock in a transaction on Monday, September 12th. The stock was sold at an average price of $18.17, for a total value of $908,500.00. Following the completion of the transaction, the director now directly owns 10,691 shares of the company's stock, valued at approximately $194,255.47. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Courtney Mather sold 50,000 shares of the business's stock in a transaction on Monday, September 12th. The stock was sold at an average price of $18.17, for a total value of $908,500.00. Following the completion of the transaction, the director now directly owns 10,691 shares of the company's stock, valued at approximately $194,255.47. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brett Icahn sold 71,304 shares of the business's stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $16.89, for a total value of $1,204,324.56. Following the completion of 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. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Newell Brands

Several large investors have recently added to or reduced their stakes in NWL. Fairfield Bush & CO. purchased a new stake in Newell Brands during the 1st quarter valued at about $26,000. Canada Pension Plan Investment Board boosted its stake in shares of Newell Brands by 711.7% in 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 boosted its stake in shares of Newell Brands by 195.8% in 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. XTX Topco Ltd purchased a new stake in shares of Newell Brands in the first quarter worth about $205,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Newell Brands in the second quarter worth about $208,000. Hedge funds and other institutional investors own 91.05% of the company's stock.

Newell Brands Company Profile

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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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