Spectrum Brands (NYSE:SPB) Stock Price Down 2.5%

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s share price dropped 2.5% during trading on Wednesday . The company traded as low as $84.91 and last traded at $85.10. Approximately 49,023 shares traded hands during trading, a decline of 88% from the average daily volume of 414,712 shares. The stock had previously closed at $87.29.

Wall Street Analysts Forecast Growth

SPB has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $114.00 price objective on shares of Spectrum Brands in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spectrum Brands from $85.00 to $91.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Oppenheimer increased their price target on shares of Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Canaccord Genuity Group reduced their price objective on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday. Finally, Wells Fargo & Company increased their target price on shares of Spectrum Brands from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $99.57.

Spectrum Brands Trading Down 2.6 %

The firm has a market cap of $2.48 billion, a PE ratio of 1.72, a PEG ratio of 0.37 and a beta of 1.19. The business has a 50-day moving average price of $88.93 and a two-hundred day moving average price of $84.14. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.73 and a quick ratio of 3.05.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $1.13. The business had revenue of $718.50 million during the quarter, compared to analysts’ expectations of $708.54 million. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) earnings per share. Analysts forecast that Spectrum Brands Holdings, Inc. will post 4.68 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, May 28th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Friday, May 24th. Spectrum Brands’s dividend payout ratio is presently 3.40%.

Institutional Trading of Spectrum Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EMC Capital Management purchased a new stake in Spectrum Brands during the 1st quarter worth about $192,000. Tidal Investments LLC boosted its stake in Spectrum Brands by 66.0% in the 1st quarter. Tidal Investments LLC now owns 13,778 shares of the company’s stock worth $1,226,000 after buying an additional 5,480 shares during the last quarter. Redwood Investment Management LLC boosted its stake in Spectrum Brands by 3.1% in the 1st quarter. Redwood Investment Management LLC now owns 78,447 shares of the company’s stock worth $6,983,000 after buying an additional 2,355 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Spectrum Brands in the 1st quarter worth about $335,000. Finally, Caxton Associates LP acquired a new stake in Spectrum Brands in the 1st quarter worth about $792,000.

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.