Spectrum Brands Holdings, Inc. (NYSE:SPB) Declares Quarterly Dividend of $0.42

Spectrum Brands Holdings, Inc. (NYSE:SPB) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Tuesday, May 28th will be given a dividend of 0.42 per share on Tuesday, June 18th. This represents a $1.68 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, May 24th.

Spectrum Brands has a payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Spectrum Brands to earn $4.47 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 37.6%.

Spectrum Brands Price Performance

NYSE SPB traded up $10.08 on Thursday, hitting $94.60. 865,045 shares of the company’s stock were exchanged, compared to its average volume of 369,638. The stock has a 50-day moving average of $83.30 and a 200-day moving average of $79.47. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60. Spectrum Brands has a 52 week low of $65.27 and a 52 week high of $95.27. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 2.03, a P/E/G ratio of 0.59 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.47. Spectrum Brands had a return on equity of 4.66% and a net margin of 63.89%. The firm had revenue of $692.20 million during the quarter, compared to analysts’ expectations of $674.20 million. During the same period in the prior year, the company earned ($0.32) earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. Analysts expect that Spectrum Brands will post 3.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPB. Canaccord Genuity Group restated a “hold” rating and issued a $86.00 price objective (up from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Wells Fargo & Company increased their price objective on Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Monness Crespi & Hardt increased their price objective on Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Canaccord Genuity Group downgraded Spectrum Brands from a “buy” rating to a “hold” rating and increased their price objective for the company from $83.00 to $86.00 in a report on Friday, February 9th. Finally, Royal Bank of Canada increased their price objective on Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $91.00.

About Spectrum Brands

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.