Fortune Brands Innovations, Inc. (NYSE:FBIN) Declares $0.24 Quarterly Dividend

Fortune Brands Innovations, Inc. (NYSE:FBIN) declared a quarterly dividend on Tuesday, September 24th, Wall Street Journal reports. Stockholders of record on Friday, November 22nd will be paid a dividend of 0.24 per share on Wednesday, December 11th. This represents a $0.96 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Friday, November 22nd.

Fortune Brands Innovations has decreased its dividend by an average of 1.4% per year over the last three years. Fortune Brands Innovations has a dividend payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fortune Brands Innovations to earn $4.72 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 20.3%.

Fortune Brands Innovations Trading Down 1.2 %

Shares of Fortune Brands Innovations stock opened at $86.47 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. Fortune Brands Innovations has a 52 week low of $54.10 and a 52 week high of $88.22. The stock has a 50 day moving average price of $78.32 and a two-hundred day moving average price of $74.80. The stock has a market capitalization of $10.82 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FBIN has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays upped their target price on Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Loop Capital cut their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.20.

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.