Spectrum Brands Holdings Inc. (NYSE:SPB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Spectrum Brands Holdings Inc. (NYSE:SPB) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $73.80.

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Spectrum Brands in a research note on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Canaccord Genuity Group dropped their price target on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the stock an “outperform” rating in a report on Monday, August 11th. Finally, Wall Street Zen raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Sunday.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Spectrum Brands by 120.3% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Spectrum Brands during the 2nd quarter valued at about $41,000. SJS Investment Consulting Inc. bought a new position in shares of Spectrum Brands during the 3rd quarter worth approximately $47,000. State of Alaska Department of Revenue acquired a new stake in shares of Spectrum Brands during the 3rd quarter worth about $49,000. Finally, Blue Trust Inc. increased its holdings in Spectrum Brands by 44.8% during the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after purchasing an additional 328 shares in the last quarter.

Spectrum Brands Stock Down 1.8%

SPB stock opened at $53.82 on Monday. Spectrum Brands has a 12 month low of $49.99 and a 12 month high of $96.62. The firm has a market cap of $1.30 billion, a PE ratio of 20.08 and a beta of 0.82. The firm has a 50 day simple moving average of $54.00 and a 200 day simple moving average of $56.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.01). The business had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. Equities research analysts forecast that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, August 26th. Spectrum Brands’s dividend payout ratio (DPR) is 70.15%.

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.