Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives Consensus Rating of “Hold” from Brokerages

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have received a consensus recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $89.17.

Several equities research analysts recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. StockNews.com raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Monness Crespi & Hardt boosted their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $86.00 target price (up previously from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Finally, Canaccord Genuity Group lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating and upped their target price for the stock from $83.00 to $86.00 in a report on Friday, February 9th.

Spectrum Brands Stock Up 2.8 %

SPB stock opened at $82.59 on Friday. The firm has a 50 day moving average of $82.86 and a 200 day moving average of $79.04. The stock has a market capitalization of $2.50 billion, a PE ratio of 1.79, a price-to-earnings-growth ratio of 0.56 and a beta of 1.20. The company has a quick ratio of 2.75, a current ratio of 3.36 and a debt-to-equity ratio of 0.60. Spectrum Brands has a 52 week low of $64.04 and a 52 week high of $89.64.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.31 by $0.47. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The business had revenue of $692.20 million during the quarter, compared to analysts’ expectations of $674.20 million. During the same period in the previous year, the business posted ($0.32) EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Sell-side analysts forecast that Spectrum Brands will post 3.79 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.68 annualized dividend and a dividend yield of 2.03%. Spectrum Brands’s payout ratio is currently 3.65%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. purchased a new stake in Spectrum Brands during the 4th quarter worth approximately $1,424,000. Qube Research & Technologies Ltd purchased a new stake in Spectrum Brands during the 3rd quarter worth approximately $4,452,000. Fifth Third Bancorp bought a new stake in shares of Spectrum Brands in the 4th quarter worth about $71,000. California Public Employees Retirement System raised its stake in shares of Spectrum Brands by 32.5% in the 3rd quarter. California Public Employees Retirement System now owns 72,330 shares of the company’s stock valued at $5,667,000 after purchasing an additional 17,753 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Spectrum Brands by 5.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 152,745 shares of the company’s stock valued at $11,968,000 after purchasing an additional 8,431 shares in the last quarter.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. 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, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.