Spectrum Brands (NYSE:SPB) Issues Quarterly Earnings Results, Beats Expectations By $0.47 EPS

Spectrum Brands (NYSE:SPBGet Free Report) posted its quarterly earnings data on Thursday. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.47, Briefing.com reports. The business had revenue of $692.20 million during the quarter, compared to the consensus estimate of $674.20 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.78%. Spectrum Brands’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) EPS.

Spectrum Brands Trading Down 0.3 %

SPB stock traded down $0.24 during midday trading on Friday, reaching $85.86. The company’s stock had a trading volume of 417,211 shares, compared to its average volume of 370,484. The stock has a market cap of $2.65 billion, a PE ratio of 1.86, a price-to-earnings-growth ratio of 0.76 and a beta of 1.19. The business’s 50-day simple moving average is $78.33 and its 200-day simple moving average is $77.42. The company has a quick ratio of 3.22, a current ratio of 3.83 and a debt-to-equity ratio of 0.61. Spectrum Brands has a 52 week low of $56.69 and a 52 week high of $87.99.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.65%.

Analyst Ratings Changes

SPB has been the topic of several research analyst reports. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $86.00 price target (up from $83.00) on shares of Spectrum Brands in a research report on Friday. Wells Fargo & Company upped their price target on Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday. Royal Bank of Canada raised their price objective on shares of Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday. Canaccord Genuity Group cut shares of Spectrum Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $83.00 to $86.00 in a research note on Friday. Finally, Monness Crespi & Hardt lifted their price objective on Spectrum Brands from $87.00 to $98.00 and gave the stock a “buy” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $88.86.

Read Our Latest Stock Analysis on SPB

Insider Activity at Spectrum Brands

In other news, CEO David M. Maura purchased 20,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was bought at an average price of $66.41 per share, with a total value of $1,328,200.00. Following the acquisition, the chief executive officer now directly owns 744,391 shares of the company’s stock, valued at $49,435,006.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Ehsan Zargar acquired 1,053 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average cost of $66.50 per share, with a total value of $70,024.50. Following the transaction, the executive vice president now owns 145,415 shares of the company’s stock, valued at approximately $9,670,097.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Maura bought 20,000 shares of the stock in a transaction on Monday, November 27th. The shares were purchased at an average price of $66.41 per share, with a total value of $1,328,200.00. Following the acquisition, the chief executive officer now owns 744,391 shares in the company, valued at approximately $49,435,006.31. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SPB. AQR Capital Management LLC bought a new stake in Spectrum Brands during the 1st quarter worth about $345,000. Exencial Wealth Advisors LLC bought a new stake in Spectrum Brands during the fourth quarter worth about $336,000. Principal Financial Group Inc. boosted its position in Spectrum Brands by 4.8% during the first quarter. Principal Financial Group Inc. now owns 3,958 shares of the company’s stock valued at $262,000 after purchasing an additional 181 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Spectrum Brands by 197.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,254 shares of the company’s stock valued at $260,000 after purchasing an additional 2,161 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in shares of Spectrum Brands during the 2nd quarter worth approximately $217,000.

About Spectrum Brands

(Get Free Report)

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.

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Earnings History for Spectrum Brands (NYSE:SPB)

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