Spectrum Brands Holdings, Inc. (SPB) Expected to Announce Quarterly Sales of $1.31 Billion
Analysts forecast that Spectrum Brands Holdings, Inc. (NYSE:SPB) will announce $1.31 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Spectrum Brands Holdings’ earnings, with estimates ranging from $1.27 billion to $1.35 billion. Spectrum Brands Holdings reported sales of $1.25 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The company is scheduled to report its next earnings report on Thursday, November 16th.
On average, analysts expect that Spectrum Brands Holdings will report full year sales of $1.31 billion for the current financial year, with estimates ranging from $4.95 billion to $5.03 billion. For the next year, analysts expect that the business will post sales of $5.19 billion per share, with estimates ranging from $5.12 billion to $5.31 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Spectrum Brands Holdings.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.71 EPS for the quarter, missing the Zacks’ consensus estimate of $1.92 by $0.21. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.38 billion. Spectrum Brands Holdings had a return on equity of 17.46% and a net margin of 5.87%. Spectrum Brands Holdings’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share.
Several equities analysts recently issued reports on the company. Deutsche Bank AG restated a “buy” rating and set a $131.00 price target (down from $149.00) on shares of Spectrum Brands Holdings in a research report on Monday, July 31st. Jefferies Group LLC set a $143.00 price target on Spectrum Brands Holdings and gave the stock a “buy” rating in a research report on Saturday, July 29th. Royal Bank Of Canada set a $155.00 price target on Spectrum Brands Holdings and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research lowered Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, July 29th. Finally, BMO Capital Markets reduced their price target on Spectrum Brands Holdings from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $143.88.
Spectrum Brands Holdings (SPB) opened at 111.99 on Monday. The company has a 50 day moving average price of $124.71 and a 200-day moving average price of $132.49. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 22.93 and a beta of 0.66. Spectrum Brands Holdings has a 1-year low of $108.30 and a 1-year high of $146.09.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Friday, August 11th. Spectrum Brands Holdings’s dividend payout ratio (DPR) is currently 34.29%.
A number of large investors have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Spectrum Brands Holdings during the second quarter valued at $100,000. Daiwa Securities Group Inc. boosted its stake in Spectrum Brands Holdings by 33.3% in the second quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock valued at $100,000 after buying an additional 200 shares during the period. Invictus RG acquired a new stake in Spectrum Brands Holdings during the first quarter valued at $156,000. SG Americas Securities LLC boosted its stake in Spectrum Brands Holdings by 50.6% in the second quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock valued at $198,000 after buying an additional 533 shares during the period. Finally, TD Asset Management Inc. acquired a new stake in Spectrum Brands Holdings during the first quarter valued at $211,000. Institutional investors and hedge funds own 47.38% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This article was reported by American Banking News and is owned by of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/08/07/spectrum-brands-holdings-inc-spb-expected-to-announce-quarterly-sales-of-1-31-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spectrum Brands Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.