Spectrum Brands (NYSE:SPB) Issues Earnings Results

Spectrum Brands (NYSE:SPB) issued its quarterly earnings results on Friday. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.16), RTT News reports. The business had revenue of $773.70 million during the quarter, compared to analysts’ expectations of $747.80 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.36 EPS.

Spectrum Brands Trading Down 6.1 %

Shares of Spectrum Brands stock opened at $88.18 on Friday. The company has a fifty day simple moving average of $91.57 and a 200-day simple moving average of $89.38. Spectrum Brands has a 12-month low of $65.27 and a 12-month high of $96.74. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 0.26 and a beta of 1.23.

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, November 26th. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s payout ratio is currently 47.46%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPB. Wells Fargo & Company boosted their target price on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. UBS Group upped their target price on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.88.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. 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, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.