Spectrum Brands Holdings Inc. (NYSE:SPB) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Spectrum Brands, with four holds and three buys. The average 12-month price target is $98.83, compared with the stock’s $88.67 opening price.
• Spectrum Brands exceeded quarterly expectations, reporting EPS of $2.79 versus the $1.46 consensus estimate and revenue of $753.3 million, up 7.7% year over year.
• The company announced a quarterly dividend of $0.47 per share, equivalent to $1.88 annually and a 2.1% yield; several institutional investors also recently established or increased their positions.

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) has been assigned an average recommendation of "Hold" from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $98.8333.

SPB has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $96.00 target price on shares of Spectrum Brands in a research note on Monday, August 10th. Oppenheimer raised their price target on shares of Spectrum Brands from $85.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Wall Street Zen cut shares of Spectrum Brands from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Monness Crespi & Hardt boosted their price target on shares of Spectrum Brands from $86.00 to $105.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Wells Fargo & Company upped their price objective on shares of Spectrum Brands from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th.

Institutional Trading of Spectrum Brands

A number of institutional investors and hedge funds have recently modified their holdings of SPB. Pzena Investment Management LLC purchased a new stake in shares of Spectrum Brands during the 2nd quarter valued at $207,584,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Spectrum Brands by 374,119.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company's stock worth $129,779,000 after purchasing an additional 2,196,079 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Spectrum Brands by 8,295.6% in the 2nd quarter. California State Teachers Retirement System now owns 2,122,313 shares of the company's stock worth $181,988,000 after buying an additional 2,097,034 shares during the last quarter. Callodine Capital Management LP boosted its holdings in shares of Spectrum Brands by 20.4% in the 4th quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company's stock worth $122,013,000 after buying an additional 350,261 shares during the last quarter. Finally, BlackRock Inc. bought a new position in Spectrum Brands during the second quarter valued at about $166,197,000.

Spectrum Brands Stock Down 0.0%

SPB stock opened at $88.67 on Monday. The firm has a market capitalization of $2.04 billion, a PE ratio of 27.03, a P/E/G ratio of 2.80 and a beta of 0.63. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. Spectrum Brands has a twelve month low of $49.99 and a twelve month high of $99.06. The stock's 50 day moving average is $87.35 and its 200-day moving average is $81.60.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $1.33. The business had revenue of $753.30 million during the quarter, compared to the consensus estimate of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.Spectrum Brands's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.24 earnings per share. Sell-side analysts expect that Spectrum Brands will post 6.38 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 25th. Spectrum Brands's payout ratio is presently 57.32%.

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.

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