Fortune Brands Innovations (NYSE:FBIN) Posts Earnings Results, Misses Estimates By $0.07 EPS

Fortune Brands Innovations (NYSE:FBIN) issued its quarterly earnings results on Thursday. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07), Zacks reports. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%.

Fortune Brands Innovations Stock Down 0.5 %

Shares of FBIN stock traded down $0.36 during mid-day trading on Thursday, hitting $68.99. 2,009,476 shares of the stock traded hands, compared to its average volume of 1,415,207. The stock’s fifty day moving average is $72.70 and its two-hundred day moving average is $78.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations has a 52-week low of $62.54 and a 52-week high of $90.54. The stock has a market cap of $8.57 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.09 and a beta of 1.50.

Fortune Brands Innovations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is 27.04%.

Analyst Ratings Changes

A number of research firms have recently commented on FBIN. Evercore ISI cut their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. UBS Group cut their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Robert W. Baird reduced their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Truist Financial boosted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus target price of $89.36.

Fortune Brands Innovations Company Profile

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.