Fortune Brands Innovations (FBIN) Expected to Announce Earnings on Thursday

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) is anticipated to issue its quarterly earnings data after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $1.04 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.Persons that wish to register for the company's earnings conference call can do so using this link.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The company's quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the business posted $1.19 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 Trading Down 2.1 %

Shares of FBIN stock traded down $1.53 on Friday, hitting $71.76. The stock had a trading volume of 580,096 shares, compared to its average volume of 1,322,735. The company's 50 day moving average price is $73.39 and its 200-day moving average price is $78.14. Fortune Brands Innovations has a 1 year low of $62.54 and a 1 year high of $90.54. 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 firm has a market capitalization of $8.91 billion, a P/E ratio of 20.20, a P/E/G ratio of 2.14 and a beta of 1.49.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. This is an increase from Fortune Brands Innovations's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations's payout ratio is currently 27.04%.

Analysts Set New Price Targets

A number of research firms have issued reports on FBIN. 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 on the stock in a report on Tuesday, January 14th. Jefferies Financial Group increased their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Robert W. Baird lowered their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Evercore ISI cut their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. Finally, Truist Financial lifted their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Fortune Brands Innovations has a consensus rating of "Hold" and an average 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.