Spectrum Brands Holdings, Inc. (SPB) Announces $0.42 Quarterly Dividend
Spectrum Brands Holdings, Inc. (NYSE:SPB) announced a quarterly dividend on Wednesday, July 26th, Wall Street Journal reports. Stockholders of record on Tuesday, August 15th will be paid a dividend of 0.42 per share on Tuesday, September 12th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, August 11th.
Spectrum Brands Holdings has raised its dividend by an average of 15.0% per year over the last three years and has raised its dividend every year for the last 3 years. Spectrum Brands Holdings has a payout ratio of 28.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Spectrum Brands Holdings to earn $6.52 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 25.8%.
Spectrum Brands Holdings (SPB) traded down 0.69% during trading on Wednesday, reaching $123.11. 290,315 shares of the company were exchanged. The company has a market capitalization of $7.24 billion, a P/E ratio of 23.26 and a beta of 0.69. Spectrum Brands Holdings has a one year low of $113.95 and a one year high of $146.09. The firm’s 50-day moving average is $127.51 and its 200 day moving average is $132.61.
Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.26 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Spectrum Brands Holdings had a net margin of 6.31% and a return on equity of 17.78%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, analysts anticipate that Spectrum Brands Holdings will post $5.84 EPS for the current fiscal year.
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SPB has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Spectrum Brands Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Jefferies Group LLC reissued a “buy” rating and set a $167.00 price objective (up from $160.00) on shares of Spectrum Brands Holdings in a research report on Tuesday, April 18th. Royal Bank Of Canada restated a “buy” rating and set a $160.00 target price on shares of Spectrum Brands Holdings in a report on Friday, April 21st. BMO Capital Markets set a $155.00 target price on shares of Spectrum Brands Holdings and gave the company a “buy” rating in a report on Tuesday, May 2nd. Finally, Deutsche Bank AG dropped their target price on shares of Spectrum Brands Holdings from $152.00 to $149.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $149.50.
Spectrum Brands Holdings Company Profile
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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