Equities research analysts expect Spectrum Brands Holdings Inc (NYSE:SPB) to announce $1.02 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Spectrum Brands’ earnings, with the highest sales estimate coming in at $1.05 billion and the lowest estimate coming in at $986.00 million. Spectrum Brands reported sales of $993.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.7%. The company is scheduled to announce its next earnings results on Wednesday, November 11th.
According to Zacks, analysts expect that Spectrum Brands will report full year sales of $3.81 billion for the current financial year, with estimates ranging from $3.78 billion to $3.84 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.89 billion, with estimates ranging from $3.83 billion to $3.95 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Spectrum Brands.
Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Friday, July 31st. The company reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.43. The company had revenue of $984.30 million for the quarter, compared to analysts’ expectations of $946.17 million. Spectrum Brands had a positive return on equity of 11.34% and a negative net margin of 1.86%. Spectrum Brands’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.35 EPS.
Several equities research analysts recently weighed in on SPB shares. ValuEngine cut Spectrum Brands from a “hold” rating to a “sell” rating in a report on Thursday, August 6th. Zacks Investment Research raised Spectrum Brands from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research note on Friday, August 7th. Deutsche Bank boosted their target price on Spectrum Brands from $53.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Monness Crespi & Hardt boosted their price objective on shares of Spectrum Brands from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Oppenheimer reaffirmed a “buy” rating and set a $58.00 target price on shares of Spectrum Brands in a research note on Friday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $52.50.
A number of institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust increased its stake in Spectrum Brands by 119.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 669 shares of the company’s stock valued at $31,000 after purchasing an additional 364 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Spectrum Brands by 119.6% during the first quarter. Meeder Asset Management Inc. now owns 940 shares of the company’s stock valued at $34,000 after buying an additional 512 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Spectrum Brands during the second quarter valued at approximately $36,000. Advisor Group Holdings Inc. purchased a new position in Spectrum Brands in the 1st quarter worth approximately $60,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Spectrum Brands by 40.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,783 shares of the company’s stock valued at $128,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 94.25% of the company’s stock.
Spectrum Brands stock traded up $0.06 during mid-day trading on Wednesday, hitting $58.70. The company’s stock had a trading volume of 311,879 shares, compared to its average volume of 466,191. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -50.60, a price-to-earnings-growth ratio of 1.01 and a beta of 1.96. The business has a 50 day moving average price of $58.46 and a 200-day moving average price of $47.36. The company has a debt-to-equity ratio of 1.93, a current ratio of 2.08 and a quick ratio of 1.36. Spectrum Brands has a 12 month low of $19.59 and a 12 month high of $64.72.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.86%. Spectrum Brands’s payout ratio is presently 58.74%.
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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