Spectrum Brands (NYSE:SPB) Announces Earnings Results

Spectrum Brands (NYSE:SPB) issued its quarterly earnings results on Friday. The company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.33, MarketWatch Earnings reports. The business had revenue of $740.70 million during the quarter, compared to analysts’ expectations of $739.43 million. Spectrum Brands had a return on equity of 1.99% and a net margin of 61.47%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share.

Spectrum Brands Stock Performance

NYSE SPB opened at $75.43 on Friday. The stock has a market capitalization of $2.69 billion, a PE ratio of 1.72, a P/E/G ratio of 0.67 and a beta of 1.36. The business has a 50 day simple moving average of $77.35 and a two-hundred day simple moving average of $76.57. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.23 and a quick ratio of 1.94. Spectrum Brands has a 1-year low of $45.00 and a 1-year high of $85.25.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, November 29th. Spectrum Brands’s dividend payout ratio is presently 3.77%.

Insider Buying and Selling at Spectrum Brands

In related news, EVP Ehsan Zargar acquired 843 shares of the stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average cost of $82.98 per share, with a total value of $69,952.14. Following the purchase, the executive vice president now directly owns 117,335 shares of the company’s stock, valued at $9,736,458.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Ehsan Zargar acquired 843 shares of the stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average cost of $82.98 per share, with a total value of $69,952.14. Following the purchase, the executive vice president now directly owns 117,335 shares of the company’s stock, valued at $9,736,458.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David M. Maura acquired 5,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was bought at an average cost of $82.89 per share, with a total value of $414,450.00. Following the completion of the purchase, the chief executive officer now directly owns 693,816 shares in the company, valued at $57,510,408.24. The disclosure for this purchase can be found here. Insiders bought 10,843 shares of company stock worth $880,502 in the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently modified their holdings of SPB. Invesco Ltd. lifted its stake in shares of Spectrum Brands by 194.0% during the 1st quarter. Invesco Ltd. now owns 1,514,530 shares of the company’s stock worth $134,369,000 after acquiring an additional 999,459 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Spectrum Brands by 48.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,206,827 shares of the company’s stock valued at $79,913,000 after purchasing an additional 396,155 shares in the last quarter. Norges Bank bought a new stake in Spectrum Brands during the 4th quarter valued at $22,965,000. Point72 Asset Management L.P. raised its position in Spectrum Brands by 206.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 478,503 shares of the company’s stock valued at $37,347,000 after purchasing an additional 322,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Spectrum Brands by 104.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 563,794 shares of the company’s stock valued at $37,334,000 after purchasing an additional 288,371 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have commented on the company. Canaccord Genuity Group upped their price target on Spectrum Brands from $87.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Royal Bank of Canada started coverage on Spectrum Brands in a research report on Wednesday, August 23rd. They set an “outperform” rating and a $96.00 target price for the company. Finally, StockNews.com started coverage on Spectrum Brands in a research report on Thursday, October 5th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.40.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. 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, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.