Zacks: Analysts Expect Spectrum Brands Holdings Inc (SPB) Will Post Quarterly Sales of $890.48 Million

Wall Street analysts predict that Spectrum Brands Holdings Inc (NYSE:SPB) will report sales of $890.48 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Spectrum Brands’ earnings, with estimates ranging from $854.80 million to $912.60 million. Spectrum Brands reported sales of $766.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 16.2%. The company is scheduled to issue its next earnings report on Friday, May 3rd.

According to Zacks, analysts expect that Spectrum Brands will report full year sales of $3.81 billion for the current fiscal year, with estimates ranging from $3.69 billion to $3.89 billion. For the next financial year, analysts expect that the company will post sales of $3.87 billion, with estimates ranging from $3.72 billion to $4.00 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Spectrum Brands.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, February 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.60). Spectrum Brands had a return on equity of 3.24% and a net margin of 3.32%. The business had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $910.97 million. During the same period in the prior year, the company earned $0.38 EPS. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year.

SPB has been the subject of several recent research reports. CIBC reiterated a “buy” rating and issued a $14.50 price target on shares of Spectrum Brands in a report on Thursday, January 10th. Raymond James lowered shares of Spectrum Brands from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 20th. Deutsche Bank lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Royal Bank of Canada decreased their price objective on shares of Spectrum Brands to $75.00 and set an “outperform” rating for the company in a research note on Monday, November 26th. Finally, ValuEngine lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Spectrum Brands has an average rating of “Hold” and an average price target of $62.50.

NYSE SPB traded up $0.92 during trading hours on Friday, hitting $56.41. The company had a trading volume of 533,000 shares, compared to its average volume of 697,696. Spectrum Brands has a fifty-two week low of $40.54 and a fifty-two week high of $103.88. The company has a market cap of $3.02 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.64 and a beta of 1.90. The company has a current ratio of 1.12, a quick ratio of 0.91 and a debt-to-equity ratio of 1.84.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 19th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 15th. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. Spectrum Brands’s dividend payout ratio is currently 47.46%.

Several large investors have recently added to or reduced their stakes in SPB. Aperio Group LLC raised its holdings in Spectrum Brands by 66.2% in the third quarter. Aperio Group LLC now owns 15,472 shares of the company’s stock worth $1,156,000 after purchasing an additional 6,165 shares in the last quarter. Strs Ohio acquired a new position in Spectrum Brands during the 3rd quarter valued at about $312,000. First Trust Advisors LP acquired a new position in Spectrum Brands during the 3rd quarter valued at about $1,454,000. State Board of Administration of Florida Retirement System increased its position in Spectrum Brands by 36.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 37,218 shares of the company’s stock valued at $2,781,000 after buying an additional 9,919 shares in the last quarter. Finally, US Bancorp DE increased its position in Spectrum Brands by 5.8% during the 3rd quarter. US Bancorp DE now owns 15,337 shares of the company’s stock valued at $1,146,000 after buying an additional 842 shares in the last quarter. Institutional investors own 97.98% of the company’s stock.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.

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