Spectrum Brands (NYSE:SPB) Shares Gap Up Following Better-Than-Expected Earnings

Spectrum Brands Holdings Inc. (NYSE:SPB) shares gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $68.44, but opened at $73.01. Spectrum Brands shares last traded at $73.4950, with a volume of 146,798 shares changing hands.

The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.63. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $667.59 million. During the same quarter last year, the business earned $1.02 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $1.88 annualized dividend and a dividend yield of 2.6%. Spectrum Brands’s dividend payout ratio is 47.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SPB shares. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Canaccord Genuity Group lifted their price target on shares of Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Wells Fargo & Company raised their price objective on Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Spectrum Brands in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Hedge Funds Weigh In On Spectrum Brands

Several institutional investors and hedge funds have recently bought and sold shares of SPB. Northwestern Mutual Wealth Management Co. lifted its position in shares of Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after purchasing an additional 579 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after buying an additional 335 shares during the period. Headlands Technologies LLC purchased a new stake in Spectrum Brands in the 2nd quarter worth approximately $41,000. SJS Investment Consulting Inc. acquired a new stake in shares of Spectrum Brands during the 3rd quarter valued at $47,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Spectrum Brands during the 3rd quarter valued at $49,000.

Spectrum Brands Price Performance

The company has a quick ratio of 1.41, a current ratio of 2.26 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $61.52 and its two-hundred day moving average price is $57.22. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 18.49 and a beta of 0.68.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.