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

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

Spectrum Brands Stock Down 0.3 %

NYSE SPB opened at $85.86 on Friday. The company has a market capitalization of $2.65 billion, a P/E ratio of 1.86, a P/E/G ratio of 0.76 and a beta of 1.19. The stock has a 50 day moving average price of $78.63 and a 200-day moving average price of $77.47. Spectrum Brands has a one year low of $56.69 and a one year high of $87.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.22 and a current ratio of 3.83.

Spectrum Brands Dividend Announcement

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

Insider Buying and Selling

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

Institutional Trading of Spectrum Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of SPB. Invesco Ltd. increased its stake in Spectrum Brands by 194.0% in the first quarter. Invesco Ltd. now owns 1,514,530 shares of the company’s stock worth $134,369,000 after purchasing an additional 999,459 shares during the period. Dimensional Fund Advisors LP increased its stake in Spectrum Brands by 48.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,206,827 shares of the company’s stock worth $79,913,000 after purchasing an additional 396,155 shares during the period. Norges Bank purchased a new stake in Spectrum Brands in the fourth quarter worth $22,965,000. Point72 Asset Management L.P. increased its stake in Spectrum Brands by 206.7% in the second quarter. Point72 Asset Management L.P. now owns 478,503 shares of the company’s stock worth $37,347,000 after purchasing an additional 322,503 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Spectrum Brands by 104.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 563,794 shares of the company’s stock worth $37,334,000 after purchasing an additional 288,371 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Canaccord Genuity Group restated a “hold” rating and issued a $86.00 price target (up from $83.00) on shares of Spectrum Brands in a research note on Friday. Monness Crespi & Hardt upped their price target on Spectrum Brands from $87.00 to $98.00 and gave the stock a “buy” rating in a research note 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 research note on Friday. Royal Bank of Canada upped their price target on Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, StockNews.com upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $88.86.

Get Our Latest Research Report on SPB

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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