Analysts expect that Spectrum Brands (NYSE:SPB) will post $808.47 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Spectrum Brands’ earnings, with the highest sales estimate coming in at $830.00 million and the lowest estimate coming in at $792.79 million. Spectrum Brands reported sales of $1.17 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 30.9%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, April 26th.
On average, analysts expect that Spectrum Brands will report full-year sales of $3.19 billion for the current financial year, with estimates ranging from $3.15 billion to $3.24 billion. For the next fiscal year, analysts expect that the company will post sales of $3.28 billion per share, with estimates ranging from $3.23 billion to $3.36 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Spectrum Brands.
Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, February 8th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. Spectrum Brands had a return on equity of 14.51% and a net margin of 8.80%. The company had revenue of $646.50 million during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business posted $1.21 EPS. Spectrum Brands’s revenue for the quarter was up 7.3% on a year-over-year basis.
A number of brokerages recently commented on SPB. Wells Fargo lowered their target price on Spectrum Brands from $120.00 to $112.00 and set an “outperform” rating for the company in a report on Thursday. BMO Capital Markets lowered their target price on Spectrum Brands from $132.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, February 13th. UBS raised their target price on Spectrum Brands from $124.00 to $140.00 in a report on Tuesday, January 16th. Zacks Investment Research upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Jefferies Group restated a “buy” rating and set a $145.00 target price on shares of Spectrum Brands in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $139.80.
Spectrum Brands stock traded up $0.04 during midday trading on Friday, reaching $99.28. 602,889 shares of the stock traded hands, compared to its average volume of 713,612. Spectrum Brands has a 12-month low of $89.36 and a 12-month high of $146.09. The stock has a market capitalization of $5,737.10, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 1.56 and a beta of 0.78. The company has a debt-to-equity ratio of 2.01, a current ratio of 2.70 and a quick ratio of 2.19.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Spectrum Brands by 126.9% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,519 shares of the company’s stock valued at $845,000 after buying an additional 4,205 shares during the period. Gotham Asset Management LLC purchased a new position in shares of Spectrum Brands in the 4th quarter valued at about $10,087,000. Pacific Grove Capital LP purchased a new position in shares of Spectrum Brands in the 4th quarter valued at about $2,360,000. Macquarie Group Ltd. purchased a new position in shares of Spectrum Brands in the 4th quarter valued at about $432,000. Finally, Jane Street Group LLC boosted its stake in shares of Spectrum Brands by 62.9% in the 4th quarter. Jane Street Group LLC now owns 260,190 shares of the company’s stock valued at $29,245,000 after buying an additional 100,503 shares during the period. Institutional investors and hedge funds own 48.39% of the company’s stock.
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About Spectrum Brands
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.
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