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.
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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
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend was Tuesday, August 30th. Newell Brands's dividend payout ratio is currently 54.12%.
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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