Fortune Brands Innovations (FBIN) Projected to Post Earnings on Thursday

Fortune Brands Innovations (NYSE:FBIN) is expected to post its quarterly earnings results after the market closes on Thursday, February 6th. Analysts expect Fortune Brands Innovations to post earnings of $1.05 per share and revenue of $1.15 billion for the quarter. Fortune Brands Innovations has set its FY 2024 guidance at 4.170-4.230 EPS.Investors that wish to register for 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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the firm earned $1.19 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. 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 Down 3.9 %

FBIN opened at $68.87 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The company’s 50-day moving average is $73.05 and its 200 day moving average is $78.18. Fortune Brands Innovations has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The firm has a market capitalization of $8.56 billion, a P/E ratio of 19.40, a PEG ratio of 2.09 and a beta of 1.50.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. This is a positive change 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 1.45%. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.04%.

Analyst Upgrades and Downgrades

FBIN has been the topic of several research reports. Evercore ISI lowered their price objective on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. The Goldman Sachs Group reduced their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group boosted their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Barclays reduced their price objective on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.