Spectrum Brands (NYSE:SPB) Issues Quarterly Earnings Results

Spectrum Brands (NYSE:SPB) issued its quarterly earnings results on Friday. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.33, MarketWatch Earnings reports. The firm had revenue of $740.70 million for the quarter, compared to analyst estimates of $739.43 million. Spectrum Brands had a return on equity of 1.99% and a net margin of 61.47%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share.

Spectrum Brands Stock Down 11.8 %

Shares of NYSE:SPB opened at $67.82 on Friday. Spectrum Brands has a 1 year low of $45.00 and a 1 year high of $85.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.23 and a quick ratio of 1.94. The business has a fifty day moving average price of $77.07 and a two-hundred day moving average price of $76.66. The company has a market capitalization of $2.42 billion, a PE ratio of 1.52, a price-to-earnings-growth ratio of 0.66 and a beta of 1.36.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.68 dividend on an annualized basis and a yield of 2.48%. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.77%.

Insider Activity

In other news, CEO David M. Maura purchased 5,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $79.22 per share, with a total value of $396,100.00. Following the transaction, the chief executive officer now directly owns 688,816 shares of the company’s stock, valued at $54,568,003.52. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO David M. Maura acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $79.22 per share, with a total value of $396,100.00. Following the acquisition, the chief executive officer now owns 688,816 shares of the company’s stock, valued at approximately $54,568,003.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ehsan Zargar acquired 843 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average cost of $82.98 per share, for a total transaction of $69,952.14. Following the acquisition, the executive vice president now directly owns 117,335 shares in the company, valued at approximately $9,736,458.30. The disclosure for this purchase can be found here. Insiders have bought 10,843 shares of company stock valued at $880,502 in the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Spectrum Brands

Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors increased its position in shares of Spectrum Brands by 31.7% during the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after purchasing an additional 121 shares during the last quarter. MetLife Investment Management LLC grew its position in Spectrum Brands by 1,012.7% during the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock worth $78,000 after acquiring an additional 800 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Spectrum Brands by 8.8% during the 3rd quarter. Ensign Peak Advisors Inc now owns 3,210 shares of the company’s stock worth $125,000 after acquiring an additional 260 shares during the last quarter. Point72 Middle East FZE bought a new position in Spectrum Brands during the 2nd quarter worth approximately $134,000. Finally, Tower Research Capital LLC TRC grew its position in Spectrum Brands by 15.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,962 shares of the company’s stock worth $154,000 after acquiring an additional 259 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SPB shares. StockNews.com started coverage on Spectrum Brands in a report on Thursday, October 5th. They set a “hold” rating for the company. Royal Bank of Canada initiated coverage on Spectrum Brands in a report on Wednesday, August 23rd. They set an “outperform” rating and a $96.00 price target for the company. Finally, 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 report on Monday, August 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Spectrum Brands presently has a consensus rating of “Moderate Buy” and an average target price of $89.40.

About Spectrum Brands

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.