Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report)'s share price reached a new 52-week low on Friday following a weaker than expected earnings announcement. The stock traded as low as $56.50 and last traded at $64.06, with a volume of 862010 shares trading hands. The stock had previously closed at $61.88.
The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). The company had revenue of $675.70 million for the quarter, compared to analysts' expectations of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The business's revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 earnings per share.
Spectrum Brands Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 2.84%. Spectrum Brands's payout ratio is 89.95%.
Analysts Set New Price Targets
Several research firms recently weighed in on SPB. Royal Bank of Canada cut their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. UBS Group boosted their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Canaccord Genuity Group raised shares of Spectrum Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. Monness Crespi & Hardt lowered their price target on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.17.
View Our Latest Stock Report on SPB
Institutional Investors Weigh In On Spectrum Brands
Institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new stake in Spectrum Brands during the 4th quarter valued at about $50,000. Versant Capital Management Inc lifted its holdings in Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company's stock valued at $69,000 after buying an additional 489 shares in the last quarter. Blue Trust Inc. lifted its holdings in Spectrum Brands by 46.5% during the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after buying an additional 375 shares in the last quarter. KBC Group NV lifted its holdings in Spectrum Brands by 46.3% during the 4th quarter. KBC Group NV now owns 1,233 shares of the company's stock valued at $104,000 after buying an additional 390 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new stake in Spectrum Brands during the 1st quarter valued at about $118,000.
Spectrum Brands Stock Down 1.2%
The business's fifty day moving average is $65.73 and its two-hundred day moving average is $78.84. The company has a market cap of $1.74 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40.
Spectrum Brands Company Profile
(
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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