Newell Brands Inc has announced its commitment to a restructuring and savings initiative on May 24, 2023. This program, dubbed Project Phoenix, aims to streamline the company’s operations and increase its overall strength. The initiative is expected to generate annual pre-tax cost savings of $25M-$35M, providing a significant boost to the company’s bottom line.
As part of the restructuring program, Newell Brands will begin reducing headcount in the first quarter of 2023. Most of these actions are expected to be completed by the end of the year, allowing the company to focus on its core business units and e-commerce operations.
In addition to the headcount reduction, Newell Brands plans to initiate a network optimization project during fiscal year 2023. This will further streamline the company’s operations and increase its efficiency.
Newell Brands has been undergoing a turnaround initiative since 2018, which has resulted in several divestitures and discontinued operations. The company has been slimming down to its core business units, and the restructuring program is intended to simplify and focus on e-commerce. With Project Phoenix, Newell Brands is poised for continued success in the years to come.
NWL Stock Performance and Company Overview on May 26, 2023
On May 26, 2023, NWL stock opened at 8.48, slightly higher than the previous day’s close of 8.46. The day’s range was between 8.41 and 8.84, with a total volume of 344,484 shares traded. The market cap for NWL was $3.6B.
NWL is a producer manufacturing company in the industrial conglomerates industry. The company’s annual revenue for the last year was $9.5B, with an annual profit of $197.0M and a net profit margin of 2.08%. The projected earnings growth for the next five years is negative at -2.66%.
NWL’s P/E ratio is not available, but its price/sales ratio is 0.58 and its price/book ratio is 1.02.
On May 26, 2023, NWL’s stock performance was relatively stable, with a slight increase of 0.81%.
NWL’s next reporting date is July 28, 2023, and the EPS forecast for this quarter is $0.14.
Overall, NWL’s stock performance on May 26, 2023, was stable, although the negative earnings growth trend may be a cause for concern for investors.
Newell Brands Inc (NWL) Expected to See 54.55% Increase in Median Target Price by 2023: Analysts
On May 26, 2023, Newell Brands Inc (NWL) had a median target price of $13.50, as estimated by 12 analysts offering 12-month price forecasts. This is a 54.55% increase from the last price of $8.74. The high estimate was $20.00, while the low estimate was $10.00.
The current consensus among 13 polled investment analysts is to hold the stock in Newell Brands Inc. This rating has remained steady since February.
In terms of financial performance, NWL reported earnings per share of $0.14 and sales of $2.2 billion for the current quarter. The reporting date for these figures is July 28, 2023.
Investors should keep in mind that the analysts are predicting a significant increase in the stock price in the next 12 months. However, it is important to note that these are only estimates, and the actual performance of the stock may differ from these projections. Investors should do their due diligence and carefully consider their investment strategy before making any decisions regarding NWL stock.
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