Spectrum Brands Holdings Inc. (SPB) Posts Earnings Results, Beats Estimates By $0.02 EPS
Spectrum Brands Holdings Inc. (NYSE:SPB) posted its quarterly earnings results on Thursday. The company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.02. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The firm earned $1.25 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned $1.13 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 124.61 on Friday. The stock has a market cap of $7.40 billion, a P/E ratio of 25.32 and a beta of 0.71. Spectrum Brands Holdings has a 52-week low of $87.65 and a 52-week high of $138.95. The firm’s 50-day moving average price is $133.64 and its 200-day moving average price is $125.64.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.38 per share. The ex-dividend date is Monday, November 28th. This represents a $1.52 dividend on an annualized basis and a yield of 1.22%. Spectrum Brands Holdings’s payout ratio is 32.69%.
A number of equities analysts have recently commented on SPB shares. Jefferies Group raised their price target on Spectrum Brands Holdings from $147.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Zacks Investment Research downgraded Spectrum Brands Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Monness Crespi & Hardt increased their price objective on Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Deutsche Bank AG reiterated a “buy” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Finally, Piper Jaffray Cos. initiated coverage on Spectrum Brands Holdings in a research report on Thursday, September 1st. They issued an “overweight” rating and a $147.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $142.50.
In other Spectrum Brands Holdings news, insider David M. Maura acquired 2,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was purchased at an average price of $127.47 per share, with a total value of $254,940.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.95% of the company’s stock.
Several large investors have recently modified their holdings of SPB. FMR LLC increased its stake in shares of Spectrum Brands Holdings by 42.5% in the second quarter. FMR LLC now owns 2,707,671 shares of the company’s stock worth $323,052,000 after buying an additional 806,895 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Spectrum Brands Holdings by 3.0% in the second quarter. Vanguard Group Inc. now owns 1,907,356 shares of the company’s stock worth $227,566,000 after buying an additional 55,451 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Spectrum Brands Holdings by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 1,180,047 shares of the company’s stock worth $162,479,000 after buying an additional 47,019 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Spectrum Brands Holdings by 58.6% in the second quarter. First Trust Advisors LP now owns 1,073,829 shares of the company’s stock worth $128,119,000 after buying an additional 396,790 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Spectrum Brands Holdings by 7.7% in the second quarter. Bessemer Group Inc. now owns 973,027 shares of the company’s stock worth $116,092,000 after buying an additional 69,462 shares during the last quarter. 46.76% of the stock is owned by hedge funds and other institutional investors.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
Receive News & Stock Ratings for Spectrum Brands Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands Holdings Inc. and related stocks with our FREE daily email newsletter.