Spectrum Brands Holdings Inc. (NYSE:SPB) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts have a “Hold” consensus on Spectrum Brands: five of nine covering firms rate it Hold and four rate it Buy. Their average 12-month price target is $97.14.
• Spectrum Brands reported quarterly EPS of $1.39, beating the $0.90 consensus, while revenue of $713.2 million fell short of expectations and declined 2.8% year over year.
• The company announced a quarterly dividend of $0.47 per share, equivalent to $1.88 annually and a 2.1% yield.

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) have been given an average rating of "Hold" by the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $97.14.

A number of equities analysts recently issued reports on SPB shares. Oppenheimer increased their target price on Spectrum Brands from $85.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Wells Fargo & Company decreased their price target on shares of Spectrum Brands from $90.00 to $85.00 and set an "equal weight" rating for the company in a research note on Monday, October 5th. UBS Group initiated coverage on shares of Spectrum Brands in a report on Thursday, October 15th. They set a "buy" rating and a $97.00 price objective on the stock. Wall Street Zen downgraded shares of Spectrum Brands from a "buy" rating to a "hold" rating in a report on Saturday, November 7th. Finally, Monness Crespi & Hardt raised their price objective on shares of Spectrum Brands from $86.00 to $105.00 and gave the company a "buy" rating in a research note on Monday, August 10th.

Hedge Funds Weigh In On Spectrum Brands

Several large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in shares of Spectrum Brands in the third quarter worth approximately $7,449,000. Empowered Funds LLC lifted its holdings in shares of Spectrum Brands by 31.1% in the third quarter. Empowered Funds LLC now owns 132,347 shares of the company's stock valued at $10,523,000 after purchasing an additional 31,394 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Spectrum Brands by 115.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 19,162 shares of the company's stock valued at $1,524,000 after purchasing an additional 10,278 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Spectrum Brands by 4.7% during the third quarter. First Trust Advisors LP now owns 71,909 shares of the company's stock valued at $5,718,000 after buying an additional 3,219 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in shares of Spectrum Brands during the third quarter valued at approximately $11,911,000.

Spectrum Brands Stock Down 0.4%

SPB stock opened at $88.00 on Friday. The stock's 50 day simple moving average is $83.01 and its 200 day simple moving average is $81.53. Spectrum Brands has a fifty-two week low of $53.21 and a fifty-two week high of $99.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. The company has a market cap of $2.02 billion, a P/E ratio of 41.90, a price-to-earnings-growth ratio of 3.16 and a beta of 0.81.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings data on Thursday, November 12th. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.49. The firm had revenue of $713.20 million during the quarter, compared to analysts' expectations of $717.98 million. Spectrum Brands had a return on equity of 8.44% and a net margin of 1.74%. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.61 earnings per share. On average, research analysts expect that Spectrum Brands will post 5.62 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, November 24th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. Spectrum Brands's payout ratio is presently 57.32%.

Trending Headlines about Spectrum Brands

Here are a few of the latest headlines about SPB:

• Neutral Sentiment: Canaccord Genuity lowered its price target from $110 to $105 but maintained a Buy rating, indicating continued potential upside in the analyst’s view, alongside a more cautious valuation outlook. Canaccord Genuity Group stock recommendations
• Negative Sentiment: Revenue was $713.2 million, below the roughly $718 million consensus, and declined 2.8% year over year; EPS was also below the year-ago $2.61. The sales weakness highlights ongoing demand pressure despite the earnings beat. Spectrum Brands beats Q4 earnings but revenue falls short
• Negative Sentiment: Helen of Troy’s board unanimously rejected Empower Brands’ unsolicited, non-binding acquisition proposal. The setback reduces the near-term likelihood of the proposed deal proceeding and leaves its strategic benefits uncertain. Helen of Troy Issues Statement

About Spectrum Brands

Spectrum Brands Holdings, Inc. is a global consumer products company that develops, manufactures and markets products for homes, pets and gardens. Its businesses serve consumers through a portfolio of established brands and retail, e-commerce and other distribution channels. The company's Home and Personal Care products include small kitchen appliances, personal care devices and home appliances sold under brands such as Remington, Russell Hobbs, George Foreman and Black+Decker, under license. Its Global Pet Care business offers products for aquatic pets, companion animals and pet health, including brands such as Tetra, DreamBone and Nature's Miracle.

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