Spectrum Brands, Inc. Common Stock (SPB) Expected to Announce Quarterly Sales of $815.33 Million

Wall Street brokerages expect that Spectrum Brands, Inc. Common Stock (NYSE:SPB) will post $815.33 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Spectrum Brands, Inc. Common Stock’s earnings. The lowest sales estimate is $797.50 million and the highest is $831.20 million. Spectrum Brands, Inc. Common Stock reported sales of $1.32 billion during the same quarter last year, which indicates a negative year over year growth rate of 38.2%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 19th.

According to Zacks, analysts expect that Spectrum Brands, Inc. Common Stock will report full year sales of $3.17 billion for the current financial year, with estimates ranging from $3.16 billion to $3.19 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.28 billion per share, with estimates ranging from $3.25 billion to $3.34 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Spectrum Brands, Inc. Common Stock.

Spectrum Brands, Inc. Common Stock (NYSE:SPB) last announced its quarterly earnings results on Thursday, July 26th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.21. The firm had revenue of $945.50 million for the quarter, compared to the consensus estimate of $900.23 million. Spectrum Brands, Inc. Common Stock had a net margin of 22.32% and a negative return on equity of 4.00%. The company’s revenue for the quarter was down 27.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.71 earnings per share.

Several research analysts recently weighed in on the stock. Gabelli restated a “buy” rating on shares of Spectrum Brands, Inc. Common Stock in a research report on Friday, July 27th. BMO Capital Markets increased their price target on shares of Spectrum Brands, Inc. Common Stock from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Monness Crespi & Hardt reduced their price target on shares of Spectrum Brands, Inc. Common Stock from $137.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, April 27th. Oppenheimer reduced their price target on shares of Spectrum Brands, Inc. Common Stock from $130.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, May 18th. Finally, ValuEngine upgraded shares of Spectrum Brands, Inc. Common Stock from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $125.10.

A number of hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC purchased a new stake in Spectrum Brands, Inc. Common Stock in the second quarter worth $709,000. California Public Employees Retirement System lifted its stake in Spectrum Brands, Inc. Common Stock by 18.6% in the second quarter. California Public Employees Retirement System now owns 61,848 shares of the company’s stock worth $5,048,000 after acquiring an additional 9,694 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Spectrum Brands, Inc. Common Stock in the second quarter worth $3,836,000. Tower Research Capital LLC TRC lifted its stake in Spectrum Brands, Inc. Common Stock by 773.8% in the second quarter. Tower Research Capital LLC TRC now owns 14,007 shares of the company’s stock worth $1,143,000 after acquiring an additional 12,404 shares during the period. Finally, Marshall Wace LLP lifted its stake in Spectrum Brands, Inc. Common Stock by 106.5% in the second quarter. Marshall Wace LLP now owns 112,771 shares of the company’s stock worth $1,476,000 after acquiring an additional 58,149 shares during the period.

Shares of SPB stock traded up $1.59 during trading on Monday, hitting $89.58. The company had a trading volume of 6,098 shares, compared to its average volume of 451,301. The company has a current ratio of 3.14, a quick ratio of 2.68 and a debt-to-equity ratio of 3.07. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -142.47 and a beta of 1.50. Spectrum Brands, Inc. Common Stock has a 52 week low of $58.88 and a 52 week high of $119.94.

The company also recently announced a special dividend, which will be paid on Tuesday, September 11th. Stockholders of record on Tuesday, August 14th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, August 13th. Spectrum Brands, Inc. Common Stock’s dividend payout ratio is -270.97%.

About Spectrum Brands, Inc. Common Stock

Spectrum Brands Holdings, Inc manufactures, markets, and distributes branded consumer products. Its Global Batteries & Appliances segment offers consumer batteries; personal care products, including electric shaving and grooming products, and hair care appliances and accessories; and small appliances, such as small kitchen and home appliances.

See Also: Earnings Per Share (EPS) Explained

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Earnings History and Estimates for Spectrum Brands, Inc. Common Stock (NYSE:SPB)

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