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Spectrum Brands (NYSE:SPB) PT Lowered to $68.00 at Deutsche Bank Aktiengesellschaft

Financial News Live ·  Sep 19, 2022 02:51

Spectrum Brands (NYSE:SPB – Get Rating) had its price objective cut by Deutsche Bank Aktiengesellschaft from $90.00 to $68.00 in a research note issued to investors on Friday, The Fly reports. They currently have a buy rating on the stock.

SPB has been the subject of a number of other reports. Wells Fargo & Company cut their target price on Spectrum Brands from $100.00 to $95.00 and set an overweight rating for the company in a research note on Monday, August 15th. Oppenheimer cut their target price on Spectrum Brands from $125.00 to $95.00 and set an outperform rating for the company in a research note on Monday, July 18th. UBS Group cut their target price on Spectrum Brands from $109.00 to $100.00 and set a buy rating for the company in a research note on Monday, August 15th. Royal Bank of Canada cut their target price on Spectrum Brands from $120.00 to $109.00 and set an outperform rating for the company in a research note on Monday, August 15th. Finally, Raymond James began coverage on Spectrum Brands in a research note on Tuesday, July 12th. They issued a market perform rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $87.00.

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Spectrum Brands Stock Performance

NYSE SPB opened at $47.05 on Friday. The company's fifty day moving average is $66.97 and its two-hundred day moving average is $79.46. Spectrum Brands has a 52-week low of $46.67 and a 52-week high of $107.22. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.66 and a quick ratio of 2.02. The firm 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 released its earnings results on Friday, August 12th. The company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.88). Spectrum Brands had a return on equity of 3.85% and a net margin of 3.41%. The firm had revenue of $818.00 million for the quarter, compared to analyst estimates of $917.88 million. During the same period last year, the business earned $1.57 earnings per share. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that Spectrum Brands will post 1.27 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Tuesday, August 30th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, August 29th. This represents a $1.68 annualized dividend and a yield of 3.57%. Spectrum Brands's dividend payout ratio is currently 65.88%.

Institutional Trading of Spectrum Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ensign Peak Advisors Inc acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at $300,000. Gotham Asset Management LLC acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at $747,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at $305,000. Cinctive Capital Management LP acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at $2,885,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Spectrum Brands by 3.5% in the first quarter. Teacher Retirement System of Texas now owns 8,170 shares of the company's stock valued at $725,000 after buying an additional 275 shares in the last quarter.

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.

Further Reading

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