Spectrum Brands Holdings Inc (NYSE:SPB) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Tuesday, August 25th will be given a dividend of 0.42 per share on Tuesday, September 22nd. This represents a $1.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, August 24th.
Spectrum Brands has raised its dividend payment by an average of 10.5% per year over the last three years. Spectrum Brands has a dividend payout ratio of 58.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Spectrum Brands to earn $3.07 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 54.7%.
Shares of SPB traded down $0.66 during trading hours on Thursday, reaching $51.52. 5,157 shares of the stock traded hands, compared to its average volume of 312,720. Spectrum Brands has a 52 week low of $19.59 and a 52 week high of $64.72. The stock has a fifty day simple moving average of $46.63 and a 200 day simple moving average of $47.75. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -10.19, a PEG ratio of 1.44 and a beta of 1.91. The company has a current ratio of 2.39, a quick ratio of 1.53 and a debt-to-equity ratio of 2.45.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Spectrum Brands from a “sell” rating to a “hold” rating and set a $51.00 target price on the stock in a research note on Friday, July 17th. Deutsche Bank increased their target price on Spectrum Brands from $47.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Finally, BMO Capital Markets decreased their price objective on shares of Spectrum Brands from $12.00 to $10.00 and set a “market perform” rating for the company in a report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $44.86.
About Spectrum Brands
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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