KeyCorp Equities Analysts Raise Earnings Estimates for Spectrum Brands Holdings, Inc. (SPB)
Spectrum Brands Holdings, Inc. (NYSE:SPB) – KeyCorp upped their Q1 2018 EPS estimates for shares of Spectrum Brands Holdings in a research note issued to investors on Sunday. KeyCorp analyst J. Gere now expects that the company will post earnings per share of $1.31 for the quarter, up from their previous estimate of $1.30.
SPB has been the topic of a number of other reports. Zacks Investment Research raised shares of Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research report on Wednesday, March 15th. Jefferies Group LLC reissued a “buy” rating and issued a $167.00 price target on shares of Spectrum Brands Holdings in a research note on Tuesday, May 2nd. Royal Bank of Canada restated a “buy” rating and issued a $160.00 price objective on shares of Spectrum Brands Holdings in a report on Friday, April 21st. BMO Capital Markets set a $155.00 price objective on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a report on Friday, January 27th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Spectrum Brands Holdings in a report on Thursday, January 26th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Spectrum Brands Holdings currently has an average rating of “Buy” and an average target price of $151.63.
Spectrum Brands Holdings (NYSE:SPB) opened at 129.79 on Wednesday. Spectrum Brands Holdings has a 52 week low of $111.40 and a 52 week high of $146.09. The company has a 50-day moving average of $135.98 and a 200-day moving average of $131.00. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 24.52 and a beta of 0.65.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.26 by $0.07. Spectrum Brands Holdings had a net margin of 6.58% and a return on equity of 18.03%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the company posted $1.16 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of SPB. Riverhead Capital Management LLC acquired a new stake in Spectrum Brands Holdings during the third quarter worth $124,000. Harvest Fund Management Co. Ltd acquired a new stake in Spectrum Brands Holdings during the fourth quarter worth $133,000. Invictus RG acquired a new stake in Spectrum Brands Holdings during the first quarter worth $156,000. Envestnet Asset Management Inc. increased its stake in Spectrum Brands Holdings by 1.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,463 shares of the company’s stock worth $179,000 after buying an additional 21 shares in the last quarter. Finally, TD Asset Management Inc. acquired a new stake in Spectrum Brands Holdings during the first quarter worth $211,000. Institutional investors and hedge funds own 47.83% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Tuesday, May 16th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, May 12th. This represents a $1.68 annualized dividend and a yield of 1.29%. Spectrum Brands Holdings’s dividend payout ratio (DPR) is presently 30.22%.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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