Spectrum Brands (NYSE:SPB) Releases Earnings Results, Beats Expectations By $1.84 EPS

Spectrum Brands (NYSE:SPB) issued its quarterly earnings results on Thursday. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $1.84, FiscalAI reports. The company had revenue of $733.50 million during the quarter, compared to analyst estimates of $738.57 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. Spectrum Brands’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.97 EPS.

Spectrum Brands Price Performance

NYSE SPB traded down $1.36 on Friday, reaching $57.05. The company had a trading volume of 585,142 shares, compared to its average volume of 497,409. The stock has a market capitalization of $1.38 billion, a PE ratio of 21.29 and a beta of 0.82. Spectrum Brands has a 12 month low of $49.99 and a 12 month high of $96.62. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average price is $53.69 and its 200 day moving average price is $56.01.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, November 24th. Spectrum Brands’s payout ratio is currently 70.15%.

Analyst Ratings Changes

Several brokerages recently commented on SPB. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the stock an “outperform” rating in a report on Monday, August 11th. Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a report on Thursday. Wall Street Zen cut shares of Spectrum Brands from a “hold” rating to a “sell” rating in a report on Monday. Finally, Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.20.

Institutional Investors Weigh In On Spectrum Brands

Several large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in Spectrum Brands by 1,405.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock worth $128,000 after acquiring an additional 2,248 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Spectrum Brands during the 2nd quarter valued at $41,000. FORA Capital LLC purchased a new position in Spectrum Brands during the second quarter worth $754,000. Nomura Holdings Inc. increased its position in Spectrum Brands by 330.8% during the second quarter. Nomura Holdings Inc. now owns 24,939 shares of the company’s stock valued at $1,322,000 after acquiring an additional 35,746 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Spectrum Brands by 6.6% during the third quarter. California State Teachers Retirement System now owns 25,771 shares of the company’s stock valued at $1,354,000 after acquiring an additional 1,601 shares during 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.