Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB – Get Rating) have received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $121.50.
SPB has been the subject of a number of recent analyst reports. UBS Group increased their price target on Spectrum Brands from $118.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, April 4th. StockNews.com assumed coverage on Spectrum Brands in a research note on Thursday, March 31st. They issued a “sell” rating for the company. TheStreet downgraded Spectrum Brands from a “b-” rating to a “c” rating in a research note on Friday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Spectrum Brands from $116.00 to $114.00 in a research note on Monday, May 2nd.
Several hedge funds have recently modified their holdings of SPB. American Trust purchased a new position in Spectrum Brands in the 1st quarter valued at approximately $201,000. Teachers Retirement System of The State of Kentucky grew its stake in Spectrum Brands by 10.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 18,992 shares of the company’s stock valued at $1,685,000 after buying an additional 1,865 shares in the last quarter. Bank of America Corp DE grew its stake in Spectrum Brands by 8.4% in the 1st quarter. Bank of America Corp DE now owns 288,916 shares of the company’s stock valued at $25,633,000 after buying an additional 22,428 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Spectrum Brands by 44.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 253,335 shares of the company’s stock valued at $22,476,000 after buying an additional 77,591 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Spectrum Brands by 45.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,460 shares of the company’s stock valued at $484,000 after buying an additional 1,718 shares in the last quarter. Institutional investors own 95.77% of the company’s stock.
Spectrum Brands (NYSE:SPB – Get Rating) last posted its quarterly earnings data on Friday, May 6th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $807.30 million during the quarter, compared to the consensus estimate of $792.32 million. Spectrum Brands had a return on equity of 6.75% and a net margin of 3.01%. Spectrum Brands’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 earnings per share. Research analysts expect that Spectrum Brands will post 3.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 9th. Stockholders of record on Thursday, May 19th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $1.68 annualized dividend and a dividend yield of 2.11%. Spectrum Brands’s payout ratio is currently 68.02%.
About Spectrum Brands (Get Rating)
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.
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