Fortune Brands Innovations (NYSE:FBIN – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.20 to $4.40 for the period, compared to the consensus estimate of $4.29. The company issued revenue guidance of approx $4.79 billion to $4.88 billion, compared to the consensus revenue estimate of $4.85 billion.
Fortune Brands Innovations Stock Performance
Shares of NYSE FBIN traded down $2.15 during trading hours on Tuesday, reaching $73.10. 1,237,576 shares of the stock were exchanged, compared to its average volume of 1,065,706. The stock’s fifty day simple moving average is $79.63 and its 200 day simple moving average is $74.16. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 2.11 and a beta of 1.57. Fortune Brands Innovations has a 52 week low of $54.10 and a 52 week high of $84.92. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.89 and a current ratio of 1.70.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $1.07 earnings per share. Fortune Brands Innovations’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts predict that Fortune Brands Innovations will post 4.27 EPS for the current year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on Fortune Brands Innovations
Insider Activity at Fortune Brands Innovations
In other news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now directly owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.99% of the stock is owned by company insiders.
About Fortune Brands Innovations
Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.
Read More
- Five stocks we like better than Fortune Brands Innovations
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- NXP Semiconductors Will Set a New High Soon: $300 in Sight
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- Hilton Demonstrates Asset Light is Right for Investors
- How to invest in blue chip stocks
- Boston Scientific Bucks the Medtech Slow Down and Raises Outlook
Receive News & Ratings for Fortune Brands Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Innovations and related companies with MarketBeat.com's FREE daily email newsletter.