Spectrum Brands (NYSE:SPB) Releases Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Spectrum Brands (NYSE:SPB – Get Rating) issued its earnings results on Friday. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.20), MarketWatch Earnings reports. Spectrum Brands had a return on equity of 10.74% and a net margin of 3.28%. The company had revenue of $807.30 million during the quarter, compared to analysts’ expectations of $792.32 million. During the same period in the previous year, the company earned $1.76 EPS. Spectrum Brands’s quarterly revenue was up 6.1% on a year-over-year basis.

SPB opened at $84.90 on Friday. The company has a fifty day moving average price of $88.20 and a two-hundred day moving average price of $93.72. The company has a debt-to-equity ratio of 2.19, a quick ratio of 2.32 and a current ratio of 2.92. Spectrum Brands has a 52 week low of $75.66 and a 52 week high of $107.22. The firm has a market capitalization of $3.46 billion, a PE ratio of 28.98 and a beta of 1.49.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th will be issued 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 is Wednesday, May 18th. Spectrum Brands’s dividend payout ratio is presently 57.34%.

A number of brokerages recently commented on SPB. Zacks Investment Research downgraded Spectrum Brands from a “hold” rating to a “sell” rating and set a $92.00 price target for the company. in a report on Monday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price target on Spectrum Brands from $116.00 to $114.00 in a research report on Monday, May 2nd. Raymond James cut Spectrum Brands to a “market perform” rating in a research report on Wednesday, January 12th. StockNews.com initiated coverage on Spectrum Brands in a research note on Thursday, March 31st. They set a “sell” rating for the company. Finally, UBS Group increased their price target on Spectrum Brands from $118.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, April 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Spectrum Brands currently has an average rating of “Buy” and a consensus price target of $117.29.

Several hedge funds have recently made changes to their positions in SPB. Allianz Asset Management GmbH boosted its stake in Spectrum Brands by 13.2% in the 4th quarter. Allianz Asset Management GmbH now owns 320,937 shares of the company’s stock worth $32,646,000 after purchasing an additional 37,507 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Spectrum Brands by 17.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 170,862 shares of the company’s stock valued at $17,380,000 after purchasing an additional 25,222 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Spectrum Brands by 12.0% in the 4th quarter. Parametric Portfolio Associates LLC now owns 143,134 shares of the company’s stock valued at $14,560,000 after purchasing an additional 15,351 shares during the period. Morgan Stanley raised its holdings in Spectrum Brands by 5.8% in the 2nd quarter. Morgan Stanley now owns 111,164 shares of the company’s stock valued at $9,452,000 after acquiring an additional 6,075 shares during the period. Finally, Legal & General Group Plc raised its holdings in Spectrum Brands by 3.8% in the 4th quarter. Legal & General Group Plc now owns 33,536 shares of the company’s stock valued at $3,411,000 after acquiring an additional 1,238 shares during the period. 95.77% of the stock is owned by institutional investors.

Spectrum Brands Company Profile (Get Rating)

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.

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