Spectrum Brands (NYSE:SPB) Releases Quarterly Earnings Results

Spectrum Brands (NYSE:SPBGet Free Report) posted its earnings results on Friday. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.03 by $0.33, MarketWatch Earnings reports. Spectrum Brands had a net margin of 61.47% and a return on equity of 1.99%. The firm had revenue of $740.70 million for the quarter, compared to analysts’ expectations of $739.43 million. During the same quarter last year, the firm earned $0.48 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year.

Spectrum Brands Stock Down 11.8 %

Spectrum Brands stock opened at $67.82 on Friday. Spectrum Brands has a 1-year low of $45.00 and a 1-year high of $85.25. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 1.52, a P/E/G ratio of 0.66 and a beta of 1.36. The company has a current ratio of 2.23, a quick ratio of 1.94 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $77.07 and a 200 day simple moving average of $76.66.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Thursday, November 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.68 dividend on an annualized basis and a yield of 2.48%. Spectrum Brands’s dividend payout ratio is 3.77%.

Analysts Set New Price Targets

Several research firms have commented on SPB. Canaccord Genuity Group lifted their target price on shares of Spectrum Brands from $87.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Royal Bank of Canada began coverage on shares of Spectrum Brands in a report on Wednesday, August 23rd. They issued an “outperform” rating and a $96.00 price target on the stock. Finally, StockNews.com began coverage on shares of Spectrum Brands in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.40.

Get Our Latest Stock Analysis on Spectrum Brands

Insider Activity at Spectrum Brands

In other Spectrum Brands news, EVP Ehsan Zargar acquired 843 shares of Spectrum Brands stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of $82.98 per share, for a total transaction of $69,952.14. Following the purchase, the executive vice president now owns 117,335 shares of the company’s stock, valued at $9,736,458.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David M. Maura purchased 5,000 shares of Spectrum Brands stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average cost of $82.89 per share, for a total transaction of $414,450.00. Following the transaction, the chief executive officer now directly owns 693,816 shares of the company’s stock, valued at $57,510,408.24. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ehsan Zargar purchased 843 shares of Spectrum Brands stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average price of $82.98 per share, with a total value of $69,952.14. Following the completion of the transaction, the executive vice president now directly owns 117,335 shares in the company, valued at $9,736,458.30. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 10,843 shares of company stock worth $880,502. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors lifted its holdings in shares of Spectrum Brands by 31.7% during the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock worth $45,000 after acquiring an additional 121 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Spectrum Brands by 1,012.7% during the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock worth $78,000 after acquiring an additional 800 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Spectrum Brands by 8.8% during the 3rd quarter. Ensign Peak Advisors Inc now owns 3,210 shares of the company’s stock worth $125,000 after acquiring an additional 260 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Spectrum Brands during the 2nd quarter worth $134,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Spectrum Brands by 15.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,962 shares of the company’s stock worth $154,000 after acquiring an additional 259 shares during the last quarter.

About Spectrum Brands

(Get Free Report)

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. 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, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.

See Also

Earnings History for Spectrum Brands (NYSE:SPB)

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