Spectrum Brands Holdings’ (SPB) “Buy” Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in a report published on Thursday, July 6th. The firm currently has a $150.00 price target on the stock, down from their previous price target of $165.00. Jefferies Group also issued estimates for Spectrum Brands Holdings’ Q3 2017 earnings at $1.88 EPS, Q4 2017 earnings at $1.58 EPS, FY2017 earnings at $5.86 EPS, FY2018 earnings at $6.85 EPS and FY2019 earnings at $8.08 EPS.
SPB has been the topic of several other reports. Zacks Investment Research upgraded Spectrum Brands Holdings from a sell rating to a hold rating in a research report on Thursday, April 13th. Deutsche Bank AG dropped their price target on Spectrum Brands Holdings from $152.00 to $149.00 and set a buy rating for the company in a research note on Wednesday, May 3rd. BMO Capital Markets set a $155.00 price objective on Spectrum Brands Holdings and gave the company a buy rating in a research note on Tuesday, May 2nd. BidaskClub lowered Spectrum Brands Holdings from a hold rating to a sell rating in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $160.00 target price on shares of Spectrum Brands Holdings in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Spectrum Brands Holdings has a consensus rating of Buy and a consensus price target of $143.88.
Shares of Spectrum Brands Holdings (SPB) traded down 0.11% during midday trading on Thursday, hitting $111.92. 264,825 shares of the stock were exchanged. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 22.92 and a beta of 0.66. The firm has a 50 day moving average of $124.71 and a 200-day moving average of $132.49. Spectrum Brands Holdings has a one year low of $108.30 and a one year high of $146.09.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.92 by $0.21. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.38 billion. Spectrum Brands Holdings had a return on equity of 17.46% and a net margin of 5.87%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. Equities analysts expect that Spectrum Brands Holdings will post $5.61 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, August 11th. Spectrum Brands Holdings’s dividend payout ratio (DPR) is 34.29%.
A number of hedge funds have recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Spectrum Brands Holdings during the second quarter valued at $100,000. Daiwa Securities Group Inc. increased its stake in shares of Spectrum Brands Holdings by 33.3% in the second quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock valued at $100,000 after buying an additional 200 shares during the last quarter. Invictus RG acquired a new stake in shares of Spectrum Brands Holdings during the first quarter valued at $156,000. Envestnet Asset Management Inc. increased its stake in shares of Spectrum Brands Holdings by 1.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,463 shares of the company’s stock valued at $179,000 after buying an additional 21 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Spectrum Brands Holdings by 50.6% in the second quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock valued at $198,000 after buying an additional 533 shares during the last quarter. 47.38% of the stock is currently owned by hedge funds and other institutional investors.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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.