Spectrum Brands (NYSE:SPB) Releases Quarterly 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, beating the consensus estimate of $1.03 by $0.33, MarketWatch Earnings reports. Spectrum Brands had a net margin of 61.47% and a return on equity of 1.99%. The business had revenue of $740.70 million during the quarter, compared to analyst estimates of $739.43 million. During the same period in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis.

Spectrum Brands Stock Down 1.7 %

SPB stock opened at $75.58 on Friday. Spectrum Brands has a 52-week low of $45.00 and a 52-week high of $85.25. The company’s 50 day simple moving average is $77.35 and its 200-day simple moving average is $76.57. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.23 and a quick ratio of 1.94. The firm has a market capitalization of $2.70 billion, a P/E ratio of 1.72, a P/E/G ratio of 0.67 and a beta of 1.36.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Thursday, November 30th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.22%. Spectrum Brands’s payout ratio is currently 3.77%.

Wall Street Analysts Forecast Growth

SPB has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their target price on shares of Spectrum Brands from $87.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Royal Bank of Canada initiated coverage on shares of Spectrum Brands in a research report on Wednesday, August 23rd. They set an “outperform” rating and a $96.00 price target on the stock. Finally, StockNews.com initiated coverage on shares of Spectrum Brands in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.40.

Insider Activity

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

Hedge Funds Weigh In On Spectrum Brands

Several large investors have recently bought and sold shares of SPB. Captrust Financial Advisors raised its stake in shares of Spectrum Brands by 31.7% in the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after buying an additional 121 shares in the last quarter. MetLife Investment Management LLC grew 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 purchasing an additional 800 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Spectrum Brands in the 2nd quarter worth about $134,000. Tower Research Capital LLC TRC grew 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 purchasing an additional 259 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in shares of Spectrum Brands in the 2nd quarter worth about $217,000.

Spectrum Brands Company Profile

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.