Newell Brands Gets Price Targets Cuts By Analysts After Q4 Results

Newell Brands Inc NWL reported better-than-expected Q4 results.

Newell Brands reported a fourth-quarter FY22 sales decline of 18.5% year-on-year to $2.29 billion, beating the consensus of $2.23 billion. Adjusted EPS of $0.16 beat the analyst consensus of $0.11.

Newell Brands has appointed Chris Peterson, currently President, to serve as its President and CEO, effective upon the conclusion of the company's 2023 Annual Meeting of Stockholders on May 16, 2023.

Newell sees FY23 normalized EPS of $0.95 - $1.08, against the consensus of $1.42. It expects FY23 sales of $8.4 billion - $8.6 billion against the consensus of $9.08 billion.

Newell shares gained 1.2% to close at $14.77 on Friday.

These analysts made changes to their price targets on Newell Brands following the release of results.

• Raymond James cut the price target on Newell Brands from $18 to $17. Raymond James analyst Olivia Tong maintained a Strong Buy rating.
• RBC Capital lowered the price target on Newell Brands from $17 to $15. RBC Capital analyst Nik Modi maintained a Sector Perform rating.
• Morgan Stanley slashed the price target on Newell Brands from $17 to $16. Morgan Stanley analyst Dara Mohsenian maintained an Equal-Weight rating.

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