Spectrum Brands (NYSE:SPB – Get Rating) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $90.00 to $68.00 in a research note issued to investors on Friday morning, The Fly reports. The brokerage currently has a buy rating on the stock.
Other research analysts have also issued reports about the stock. Royal Bank of Canada dropped their price target on shares of Spectrum Brands from $120.00 to $109.00 and set an outperform rating on the stock in a research note on Monday, August 15th. Oppenheimer dropped their price target on shares of Spectrum Brands from $125.00 to $95.00 and set an outperform rating on the stock in a research note on Monday, July 18th. Wells Fargo & Company dropped their price target on shares of Spectrum Brands from $100.00 to $95.00 and set an overweight rating on the stock in a research note on Monday, August 15th. Raymond James assumed coverage on shares of Spectrum Brands in a research report on Tuesday, July 12th. They set a market perform rating on the stock. Finally, UBS Group lowered their target price on shares of Spectrum Brands from $109.00 to $100.00 and set a buy rating on the stock in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $87.00.
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Spectrum Brands Price Performance
Shares of NYSE:SPB opened at $47.05 on Friday. The company has a 50-day simple moving average of $66.97 and a 200-day simple moving average of $79.62. Spectrum Brands has a one year low of $46.67 and a one year high of $107.22. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.02 and a current ratio of 2.66. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 18.45 and a beta of 1.30.
Spectrum Brands (NYSE:SPB – Get Rating) last announced its earnings results on Friday, August 12th. The company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.88). Spectrum Brands had a net
margin of 3.41% and a return on equity of 3.85%. The business had revenue of $818.00 million during the quarter, compared to analysts' expectations of $917.88 million. During the same period in the previous year, the company posted $1.57 earnings per share. Spectrum Brands's quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Spectrum Brands will post 1.27 EPS for the current year.
Spectrum Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Tuesday, August 30th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, August 29th. Spectrum Brands's dividend payout ratio (DPR) is presently 65.88%.
Institutional Trading of Spectrum Brands
Several institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc lifted its holdings in shares of Spectrum Brands by 6.6% in the second quarter. Legal & General Group Plc now owns 35,432 shares of the company's stock valued at $2,906,000 after purchasing an additional 2,184 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Spectrum Brands by 3.8% during the second quarter. Goldman Sachs Group Inc. now owns 119,818 shares of the company's stock valued at $9,827,000 after buying an additional 4,418 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Spectrum Brands by 33.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 12,965 shares of the company's stock valued at $1,063,000 after buying an additional 3,263 shares during the period. Paloma Partners Management Co purchased a new position in shares of Spectrum Brands during the second quarter valued at approximately $746,000. Finally, Pentwater Capital Management LP purchased a new position in shares of Spectrum Brands during the second quarter valued at approximately $328,000.
About Spectrum Brands
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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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