Spectrum Brands Holdings, Inc. (NYSE:SPB) Announces Quarterly Dividend of $0.42

Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Tuesday, May 28th will be paid a dividend of 0.42 per share on Tuesday, June 18th. This represents a $1.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, May 24th.

Spectrum Brands has a dividend payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Spectrum Brands to earn $4.47 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 37.6%.

Spectrum Brands Price Performance

Shares of NYSE:SPB traded up $10.09 on Thursday, reaching $94.61. 1,744,425 shares of the company were exchanged, compared to its average volume of 379,708. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60. Spectrum Brands has a 1-year low of $65.27 and a 1-year high of $95.27. The company has a 50-day moving average of $83.30 and a 200-day moving average of $79.47. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 2.03, a price-to-earnings-growth ratio of 0.59 and a beta of 1.20.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.47. The company had revenue of $692.20 million for the quarter, compared to analyst estimates of $674.20 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.32) earnings per share. Equities analysts forecast that Spectrum Brands will post 3.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on SPB. Royal Bank of Canada lifted their price objective on Spectrum Brands from $89.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, February 9th. Monness Crespi & Hardt increased their price objective on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, February 9th. Canaccord Genuity Group downgraded shares of Spectrum Brands from a "buy" rating to a "hold" rating and upped their price target for the company from $83.00 to $86.00 in a report on Friday, February 9th. Canaccord Genuity Group reissued a "hold" rating and set a $86.00 price objective (up from $83.00) on shares of Spectrum Brands in a research note on Friday, February 9th. Finally, Wells Fargo & Company upped their target price on Spectrum Brands from $75.00 to $85.00 and gave the company an "equal weight" rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $91.00.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. 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, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.