Fortune Brands Innovations (FBIN) Scheduled to Post Earnings on Wednesday

Fortune Brands Innovations (NYSE:FBINGet Free Report) is set to release its earnings data on Wednesday, February 14th. Fortune Brands Innovations has set its FY24 guidance at $4.20-4.40 EPS and its FY 2024 guidance at 4.200-4.400 EPS.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. 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 1.5 %

Shares of NYSE:FBIN opened at $81.35 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 0.91 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $77.07 and a 200 day simple moving average of $68.96. The firm has a market cap of $10.26 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.72 and a beta of 1.58. Fortune Brands Innovations has a 12-month low of $54.10 and a 12-month high of $81.48.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Friday, February 23rd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, February 22nd. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.23. Fortune Brands Innovations’s payout ratio is 29.02%.

Analyst Upgrades and Downgrades

FBIN has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Fortune Brands Innovations from $68.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Royal Bank of Canada dropped their price target on shares of Fortune Brands Innovations from $74.00 to $63.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. BMO Capital Markets restated a “market perform” rating and issued a $82.00 price target (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They set a “market perform” rating on the stock. Finally, Barclays raised their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and a consensus price target of $74.33.

View Our Latest Stock Analysis on Fortune Brands Innovations

Hedge Funds Weigh In On Fortune Brands Innovations

Several hedge funds and other institutional investors have recently modified their holdings of FBIN. IFP Advisors Inc acquired a new position in shares of Fortune Brands Innovations during the second quarter worth approximately $36,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in Fortune Brands Innovations during the 2nd quarter worth $46,000. Lazard Asset Management LLC bought a new position in shares of Fortune Brands Innovations in the third quarter worth $50,000. Tyler Stone Wealth Management acquired a new position in shares of Fortune Brands Innovations during the second quarter valued at $55,000. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Fortune Brands Innovations during the second quarter valued at $65,000. Institutional investors and hedge funds own 87.20% of the company’s stock.

Fortune Brands Innovations Company Profile

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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 two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.

Further Reading

Earnings History for Fortune Brands Innovations (NYSE:FBIN)

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