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

Fortune Brands Innovations (NYSE:FBIN) posted its quarterly earnings data 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 return on equity of 22.22% and a net margin of 9.61%.

Fortune Brands Innovations Price Performance

FBIN traded down $0.36 during trading hours on Thursday, hitting $68.99. The company’s stock had a trading volume of 2,009,476 shares, compared to its average volume of 1,415,207. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.09 and a beta of 1.50. The business’s 50-day moving average price is $72.70 and its 200-day moving average price is $78.10. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations has a 12 month low of $62.54 and a 12 month high of $90.54.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.25 per share. This is an increase 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 of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FBIN shares. Evercore ISI decreased their price objective 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. Robert W. Baird lowered their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group increased their price objective 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. Truist Financial lifted 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, The Goldman Sachs Group cut their price target on 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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.