Spectrum Brands (NYSE:SPB) Issues Earnings Results, Beats Estimates By $0.33 EPS

Spectrum Brands (NYSE:SPB) posted its quarterly earnings results on Friday. The company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.33, MarketWatch Earnings reports. Spectrum Brands had a return on equity of 1.99% and a net margin of 61.47%. The company had revenue of $740.70 million for the quarter, compared to analysts’ expectations of $739.43 million. During the same period in the previous year, the firm earned $0.48 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year.

Spectrum Brands Stock Performance

NYSE SPB opened at $67.82 on Friday. The company has a market cap of $2.42 billion, a P/E ratio of 1.52, a P/E/G ratio of 0.66 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.94 and a current ratio of 2.23. The business’s 50 day moving average price is $77.07 and its 200-day moving average price is $76.66. Spectrum Brands has a fifty-two week low of $45.00 and a fifty-two week high of $85.25.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, November 29th. Spectrum Brands’s dividend payout ratio is currently 3.77%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com assumed coverage on Spectrum Brands in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Canaccord Genuity Group lifted their price objective on Spectrum Brands from $87.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Royal Bank of Canada assumed coverage on Spectrum Brands in a research note on Wednesday, August 23rd. They issued an “outperform” rating and a $96.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.

Insider Activity

In related news, EVP Ehsan Zargar bought 843 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average price of $82.98 per share, with a total value of $69,952.14. Following the transaction, the executive vice president now owns 117,335 shares in the company, valued at approximately $9,736,458.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Spectrum Brands news, CEO David M. Maura acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price of $82.89 per share, for a total transaction of $414,450.00. Following the acquisition, the chief executive officer now directly owns 693,816 shares in the company, valued at $57,510,408.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ehsan Zargar acquired 843 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average price of $82.98 per share, with a total value of $69,952.14. Following the acquisition, the executive vice president now owns 117,335 shares in the company, valued at $9,736,458.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 10,843 shares of company stock valued at $880,502. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds have recently made changes to their positions in SPB. Captrust Financial Advisors lifted its holdings in shares of Spectrum Brands by 31.7% in the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock worth $45,000 after buying an additional 121 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Spectrum Brands by 1,012.7% in the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock worth $78,000 after buying an additional 800 shares during the period. Ensign Peak Advisors Inc lifted its holdings in shares of Spectrum Brands by 8.8% in the 3rd quarter. Ensign Peak Advisors Inc now owns 3,210 shares of the company’s stock worth $125,000 after buying an additional 260 shares during the period. Point72 Middle East FZE purchased a new stake in shares of Spectrum Brands in the 2nd quarter worth $134,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Spectrum Brands by 15.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,962 shares of the company’s stock worth $154,000 after buying an additional 259 shares during the period.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.