Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $102.38.

Separately, Canaccord Genuity Group upped their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th.

Spectrum Brands Stock Down 0.0 %

NYSE SPB opened at $83.93 on Tuesday. The stock’s 50 day simple moving average is $89.76 and its 200 day simple moving average is $89.19. Spectrum Brands has a one year low of $75.50 and a one year high of $96.74. The firm has a market cap of $2.35 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The business had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. As a group, sell-side analysts forecast that Spectrum Brands will post 5.25 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, November 26th. Spectrum Brands’s payout ratio is 46.08%.

Institutional Trading of Spectrum Brands

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Spectrum Brands by 5.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after purchasing an additional 112,530 shares during the period. Pzena Investment Management LLC lifted its stake in Spectrum Brands by 10.4% in the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after buying an additional 123,733 shares during the period. State Street Corp lifted its stake in Spectrum Brands by 1.3% in the third quarter. State Street Corp now owns 590,222 shares of the company’s stock valued at $56,154,000 after buying an additional 7,783 shares during the period. Wellington Management Group LLP boosted its holdings in Spectrum Brands by 7.6% during the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock worth $48,809,000 after buying an additional 36,063 shares during the last quarter. Finally, Armistice Capital LLC grew its position in shares of Spectrum Brands by 129.4% during the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock worth $37,756,000 after buying an additional 247,809 shares during the period.

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.