Spectrum Brands Holdings Receives Average Rating of “Buy” from Brokerages (NYSE:SPB)
Spectrum Brands Holdings (NYSE:SPB) has earned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, American Banking & Market News reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $91.00.
A number of research firms have recently commented on SPB. Analysts at Barclays reiterated a “buy” rating on shares of Spectrum Brands Holdings in a research note on Thursday, July 31st. They now have a $92.00 price target on the stock, up previously from $90.00. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Spectrum Brands Holdings in a research note on Thursday, July 31st. They now have a $85.00 price target on the stock, up previously from $77.00. Finally, analysts at BMO Capital Markets raised their price target on shares of Spectrum Brands Holdings from $2.00 to $96.00 in a research note on Thursday, July 31st. They now have an “outperform” rating on the stock.
In other Spectrum Brands Holdings news, CFO Anthony L. Genito sold 10,615 shares of the stock on the open market in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $87.00, for a total value of $923,505.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 86.60 on Wednesday. Spectrum Brands Holdings has a 52-week low of $60.92 and a 52-week high of $88.40. The stock has a 50-day moving average of $84.90 and a 200-day moving average of $80.17. The company has a market cap of $4.567 billion and a price-to-earnings ratio of 35.37.
Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict that Spectrum Brands Holdings will post $4.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 16th. Investors of record on Tuesday, August 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, August 15th.
Spectrum Brands Holdings, Inc (NYSE:SPB) is a consumer products company.
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