Fortune Brands Innovations (FBIN) to Release Quarterly Earnings on Tuesday

Fortune Brands Innovations (NYSE:FBIN) is anticipated to issue its quarterly earnings data before the market opens on Tuesday, February 4th. Analysts expect the company to announce earnings of $1.04 per share and revenue of $1,145,771.06 billion for the quarter. Fortune Brands Innovations has set its FY 2024 guidance at 4.170-4.230 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the business earned $1.19 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. On average, analysts expect Fortune Brands Innovations to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Fortune Brands Innovations Stock Up 3.2 %

NYSE:FBIN opened at $74.78 on Tuesday. Fortune Brands Innovations has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The stock has a market capitalization of $9.29 billion, a P/E ratio of 21.06, a P/E/G ratio of 2.17 and a beta of 1.49. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The company’s 50-day simple moving average is $73.50 and its 200-day simple moving average is $78.20.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.25 dividend. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 28.17%.

Analyst Ratings Changes

Several brokerages recently commented on FBIN. The Goldman Sachs Group decreased their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Truist Financial increased their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Evercore ISI decreased their price objective on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Barclays reduced their price target on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, UBS Group reduced their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.36.

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.