Wells Fargo & Company Issues Pessimistic Forecast for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB) had its target price cut by Wells Fargo & Company from $92.00 to $88.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Canaccord Genuity Group increased their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.13.

Spectrum Brands Trading Up 0.8 %

Shares of SPB opened at $84.62 on Tuesday. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. Spectrum Brands has a 1-year low of $75.50 and a 1-year high of $96.74. The company has a 50-day moving average of $89.43 and a 200 day moving average of $89.09.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The firm had revenue of $773.70 million during the quarter, compared to analysts’ expectations of $747.80 million. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts expect that Spectrum Brands will post 5.25 EPS for the current year.

Spectrum Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th were issued a $0.47 dividend. The ex-dividend date was Tuesday, November 26th. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.22%. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.08%.

Institutional Investors Weigh In On Spectrum Brands

A number of hedge funds have recently made changes to their positions in SPB. Waldron Private Wealth LLC bought a new position in Spectrum Brands in the third quarter worth about $27,000. Brooklyn Investment Group bought a new position in shares of Spectrum Brands during the 3rd quarter worth approximately $31,000. International Assets Investment Management LLC lifted its position in Spectrum Brands by 9,420.0% during the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after acquiring an additional 471 shares during the last quarter. Quarry LP boosted its stake in Spectrum Brands by 375.0% in the second quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after acquiring an additional 450 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Spectrum Brands in the second quarter worth $50,000.

Spectrum Brands Company Profile

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.