Spectrum Brands Holdings Inc (NYSE:SPB) has earned a consensus rating of “Buy” from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $91.67.
Several brokerages recently commented on SPB. TheStreet raised shares of Spectrum Brands from a “c” rating to a “b-” rating in a report on Monday, August 20th. Monness Crespi & Hardt cut their price target on shares of Spectrum Brands from $103.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Zacks Investment Research raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Tuesday, September 25th. Raymond James reissued a “buy” rating and issued a $15.00 price target on shares of Spectrum Brands in a report on Monday. Finally, Deutsche Bank lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Spectrum Brands by 115.8% during the third quarter. Vanguard Group Inc. now owns 3,759,477 shares of the company’s stock worth $280,909,000 after buying an additional 2,017,489 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Spectrum Brands by 93.4% during the third quarter. Legal & General Group Plc now owns 21,586 shares of the company’s stock worth $1,613,000 after buying an additional 10,422 shares in the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Spectrum Brands during the third quarter worth $940,000. TIAA CREF Investment Management LLC grew its holdings in shares of Spectrum Brands by 42.2% during the third quarter. TIAA CREF Investment Management LLC now owns 52,099 shares of the company’s stock worth $3,893,000 after buying an additional 15,474 shares in the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of Spectrum Brands by 83.9% during the third quarter. Teachers Advisors LLC now owns 48,024 shares of the company’s stock worth $3,588,000 after buying an additional 21,909 shares in the last quarter. 95.56% of the stock is owned by institutional investors.
Shares of SPB traded up $0.04 during trading hours on Friday, hitting $47.36. The stock had a trading volume of 589,674 shares, compared to its average volume of 488,216. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.49 and a quick ratio of 2.11. Spectrum Brands has a fifty-two week low of $45.88 and a fifty-two week high of $119.94. The stock has a market cap of $2.55 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.63 and a beta of 1.57.
Spectrum Brands (NYSE:SPB) last posted its earnings results on Wednesday, November 21st. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.29). Spectrum Brands had a net margin of 23.26% and a negative return on equity of 2.43%. The firm had revenue of $787.80 million during the quarter, compared to analyst estimates of $803.72 million. During the same quarter in the prior year, the firm earned $1.35 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts expect that Spectrum Brands will post 3.65 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, November 27th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Monday, November 26th. Spectrum Brands’s payout ratio is presently 47.46%.
About Spectrum Brands
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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