Spectrum Brands (NYSE:SPB) Sets New 52-Week Low Following Weak Earnings

Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $56.50 and last traded at $64.06, with a volume of 862010 shares changing hands. The stock had previously closed at $61.88.

The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The business had revenue of $675.70 million for the quarter, compared to the consensus estimate of $701.00 million. During the same period in the prior year, the business posted $1.62 EPS. Spectrum Brands's revenue for the quarter was down 6.0% on a year-over-year basis.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.04%. Spectrum Brands's dividend payout ratio is currently 89.95%.

Analysts Set New Price Targets

SPB has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada cut their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Finally, UBS Group increased their target price on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $89.80.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds and other institutional investors have recently modified their holdings of SPB. Pzena Investment Management LLC increased its position in Spectrum Brands by 1.7% during the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock valued at $112,654,000 after acquiring an additional 22,484 shares during the last quarter. Alberta Investment Management Corp increased its position in shares of Spectrum Brands by 33.1% during the 1st quarter. Alberta Investment Management Corp now owns 750,029 shares of the company's stock valued at $53,665,000 after purchasing an additional 186,729 shares during the last quarter. LSV Asset Management lifted its stake in shares of Spectrum Brands by 2.7% in the 1st quarter. LSV Asset Management now owns 662,475 shares of the company's stock worth $47,400,000 after purchasing an additional 17,445 shares during the period. Callodine Capital Management LP boosted its holdings in shares of Spectrum Brands by 29.8% in the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock worth $44,568,000 after buying an additional 121,000 shares during the last quarter. Finally, FIL Ltd grew its position in Spectrum Brands by 8.7% during the fourth quarter. FIL Ltd now owns 461,568 shares of the company's stock valued at $38,998,000 after buying an additional 36,798 shares during the period.

Spectrum Brands Trading Down 3.5 %

The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.63 billion, a PE ratio of 15.19, a PEG ratio of 1.70 and a beta of 1.00. The stock's fifty day simple moving average is $66.03 and its 200 day simple moving average is $79.15.

Spectrum Brands Company Profile

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.