Spectrum Brands (NYSE:SPB) Releases Quarterly Earnings Results, Beats Estimates By $1.13 EPS

Spectrum Brands (NYSE:SPB - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $1.13, Briefing.com reports. The business had revenue of $718.50 million during the quarter, compared to analyst estimates of $708.54 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The business's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. Spectrum Brands updated its FY 2024 guidance to EPS.

Spectrum Brands Trading Up 0.2 %

SPB stock traded up $0.19 during mid-day trading on Friday, reaching $94.80. 693,382 shares of the stock traded hands, compared to its average volume of 383,155. The stock's fifty day moving average is $83.89 and its 200-day moving average is $79.71. The company has a market cap of $2.87 billion, a P/E ratio of 2.06, a P/E/G ratio of 0.59 and a beta of 1.20. 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 52-week low of $65.27 and a 52-week high of $96.74.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, May 28th will be paid a $0.42 dividend. The ex-dividend date is Friday, May 24th. This represents a $1.68 dividend on an annualized basis and a yield of 1.77%. Spectrum Brands's dividend payout ratio is currently 3.65%.

Wall Street Analyst Weigh In

A number of research firms have commented on SPB. Royal Bank of Canada lifted their price objective on shares of Spectrum Brands from $100.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday. Oppenheimer lifted their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spectrum Brands from $85.00 to $91.00 and gave the stock a "hold" rating in a report on Friday. Canaccord Genuity Group downgraded shares of Spectrum Brands from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $83.00 to $86.00 in a report on Friday, February 9th. Finally, Canaccord Genuity Group lifted their price objective on shares of Spectrum Brands from $86.00 to $92.00 and gave the stock a "hold" rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Spectrum Brands currently has an average rating of "Hold" and an average target price of $99.86.

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.