Fortune Brands Home & Security, Inc. Expected to Post Q2 2022 Earnings of $1.56 Per Share (NYSE:FBHS)

Fortune Brands Home & Security, Inc. (NYSE:FBHS – Get Rating) – Investment analysts at KeyCorp lowered their second-quarter 2022 EPS estimates for Fortune Brands Home & Security in a report published Thursday, April 28. KeyCorp analyst K. Zener now expects the industrial products company to earn $1.56 per share for the quarter, down from its previous estimate of $1.61. KeyCorp also released estimates for Fortune Brands Home & Security’s third-quarter 2022 earnings of $1.80 per share, fiscal 2022 of $6.50 per share and fiscal 2023 of $6.71 per share .

Fortune Brands Home & Security (NYSE:FBHS – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The industrial products company reported earnings per share (EPS) of $1.31 for the quarter, beating analyst consensus estimates of $1.26 by $0.05. Fortune Brands Home & Security had a net margin of 9.94% and a return on equity of 25.70%. The company made $1.92 billion in revenue for the quarter, compared to analysts’ expectations of $1.88 billion. In the same quarter last year, the company earned $1.36 per share. The company’s revenue for the quarter increased 8.3% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports on the stock. Truist Financial lowered its target price on shares of Fortune Brands Home & Security from $115.00 to $100.00 in a research note on Friday. Wells Fargo & Company lowered its target price on shares of Fortune Brands Home & Security from $100. UBS Group began reporting on shares of Fortune Brands Home & Security in a research note on Wednesday, January 19th. They put a “buy” rating on the stock and a price target of $130.00. Zacks Investment Research lowered shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating and put a price target of $75.00 on the stock. in a research note on Tuesday, April 12. Finally, JPMorgan Chase & Co. lowered its target price on shares of Fortune Brands Home & Security to $81.00 from $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, April. Two analysts have assigned a sell rating to the stock, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $96.93.

Fortune Brands Home & Security stock opened at $71.25 on Monday. The company’s 50-day moving average price is $78.57 and its 200-day moving average price is $92.48. Fortune Brands Home & Security has a 1 year low of $68.27 and a 1 year high of $114.00. The stock has a market cap of $9.43 billion, a P/E of 12.68, a P/E of 1.71, and a beta of 1.62. The company has a debt to equity ratio of 0.75, a quick ratio of 0.79 and a current ratio of 1.39.

Fortune Brands Home & Security announced that its Board of Directors initiated a stock repurchase program on Wednesday, March 2, allowing the Company to repurchase $750.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In related news, SVP Martin Thomas sold 4,262 shares of the company’s shares in a transaction on Monday February 7th. The shares sold at an average price of $89.28 for a total value of $380,511.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. 0.97% of the shares are currently owned by insiders.

A number of major investors recently changed their stakes in the company. Daiwa Securities Group Inc. increased its stake in Fortune Brands Home & Security by 3.1% in the first quarter. Daiwa Securities Group Inc. now owns 8,210 shares of the industrial products company valued at $610,000 after purchasing an additional 249 shares during the period. Nisa Investment Advisors LLC increased its stake in Fortune Brands Home & Security by 45.8% during the first quarter. Nisa Investment Advisors LLC now owns 48,003 shares of the industrial products company valued at $3,566,000 after purchasing an additional 15,080 shares during the period. CKW Financial Group acquired a new stake in Fortune Brands Home & Security valued at approximately $37,000 in the first quarter. Flputnam Investment Management Co. increased its stake in Fortune Brands Home & Security by 140.7% in the first quarter. Flputnam Investment Management Co. now owns 145,497 shares of the industrial products company valued at $10,808,000 after purchasing an additional 85,037 shares during the period. Finally, TownSquare Capital LLC increased its stake in Fortune Brands Home & Security by 3.3% during the first quarter. TownSquare Capital LLC now owns 20,698 shares of the industrial products company valued at $1,537,000 after purchasing an additional 663 shares during the period. Institutional investors own 84.44% of the company’s shares.

About Fortune Brands Home & Security (get rating)

Fortune Brands Home & Security, Inc offers home and security products for home repair, remodeling, new construction and security applications. It operates through three segments: Sanitary, Outdoor & Safety and Closets. The Plumbing segment manufactures, assembles and sells faucets, accessories, kitchen sinks and waste disposal equipment under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe and Shaws brands in the United States, China, Canada, Mexico and Southeast Asia, Europe and South America directly through its own sales force as well as through independent manufacturer representatives to wholesalers, home centers, wholesalers and industrial distributors.

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