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Newell Brands Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Published 09/02/2024, 08:11
Updated 09/02/2024, 09:40
© Reuters. Newell Brands Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
NWL
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Benzinga - by Avi Kapoor, Benzinga Staff Writer.

Newell Brands Inc. (NASDAQ: NWL) is expected to release earnings results for its third quarter, before the opening bell on Feb. 9, 2024.

Analysts expect the company to report quarterly earnings at 17 cents per share, up from year-ago earnings of 16 cents per share. The company is projected to post revenue of $1.98 billion for the latest quarter, compared to $2.29 billion in the year-earlier quarter, according to data from Benzinga Pro.

Newell Brands recently announced an organizational realignment to strengthen its front-end commercial capabilities. The company plans to reduce its office roles by approximately 7%, with most of the actions expected to be complete by the end of 2024.

Newell Brands shares gained 6.7% to close at $8.45 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

  • Barclays analyst Lauren Lieberman maintained an Underweight rating and raised the price target from $5 to $6 on Jan. 16, 2024. This analyst has an accuracy rate of 61%.
  • JP Morgan analyst Andrea Teixeira maintained a Neutral rating and boosted the price target from $7 to $9 on Jan. 9, 2024. This analyst has an accuracy rate of 62%.
  • Morgan Stanley analyst Dara Mohsenian maintained an Equal-Weight rating and cut the price target from $11 to $8.5 on Oct. 31, 2023. This analyst has an accuracy rate of 73%.
  • Raymond James analyst Olivia Tong downgraded the stock from Strong Buy to Outperform and cut the price target from $13 to $10 on Oct. 23, 2023. This analyst has an accuracy rate of 72%.
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Latest Ratings for NWL

Feb 2022JP MorganMaintainsOverweight
Nov 2021JP MorganUpgradesNeutralOverweight
Aug 2021Morgan StanleyMaintainsEqual-Weight

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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