Spectrum Brands (NYSE:SPB) Reaches New 1-Year Low - Here's Why

Key Points

• Spectrum Brands (NYSE:SPB) reached a new 52-week low at $50.54 amid trading, with recent stock performance showing a significant drop from a previous close of $51.52.
• A variety of analysts have adjusted their price targets for Spectrum Brands, with current average targets ranging from $55.00 to $75.00 and an overall rating of "Moderate Buy."
• The company reported earnings of $1.24 per share for the last quarter, missing forecasts by $0.01, and experienced a year-over-year revenue decline of 10.2% to $699.60 million.

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $50.54 and last traded at $50.73, with a volume of 46426 shares. The stock had previously closed at $51.52.

Analysts Set New Price Targets

A number of analysts have issued reports on SPB shares. Canaccord Genuity Group decreased their price target on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a report on Friday, August 8th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Spectrum Brands in a report on Wednesday. Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the company an "outperform" rating in a report on Monday, August 11th. Wells Fargo & Company reduced their target price on Spectrum Brands from $60.00 to $55.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Finally, Wall Street Zen raised Spectrum Brands from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Spectrum Brands currently has an average rating of "Moderate Buy" and an average price target of $73.80.

Spectrum Brands Price Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. The company has a 50-day simple moving average of $54.62 and a 200-day simple moving average of $57.76. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 18.80 and a beta of 0.81.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The business had revenue of $699.60 million for the quarter, compared to analyst estimates of $742.13 million. During the same quarter in the previous year, the firm posted $1.13 EPS. The business's revenue for the quarter was down 10.2% on a year-over-year basis. As a group, research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, August 26th. This represents a $1.88 annualized dividend and a yield of 3.7%. Spectrum Brands's payout ratio is presently 70.15%.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently modified their holdings of SPB. Callodine Capital Management LP grew its holdings in shares of Spectrum Brands by 85.5% in the 2nd quarter. Callodine Capital Management LP now owns 1,354,057 shares of the company's stock worth $71,765,000 after acquiring an additional 624,057 shares during the period. American Century Companies Inc. grew its holdings in shares of Spectrum Brands by 35.9% in the 2nd quarter. American Century Companies Inc. now owns 1,792,765 shares of the company's stock worth $95,017,000 after acquiring an additional 473,345 shares during the period. AQR Capital Management LLC grew its holdings in shares of Spectrum Brands by 142.5% in the 1st quarter. AQR Capital Management LLC now owns 634,137 shares of the company's stock worth $44,592,000 after acquiring an additional 372,630 shares during the period. Norges Bank acquired a new stake in shares of Spectrum Brands in the 2nd quarter worth approximately $16,844,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Spectrum Brands in the 2nd quarter worth approximately $15,409,000.

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.

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