Spectrum Brands (NYSE:SPB) Trading Down 2.5%

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s share price traded down 2.5% during trading on Wednesday . The company traded as low as $84.91 and last traded at $85.10. 49,023 shares were traded during trading, a decline of 88% from the average session volume of 414,712 shares. The stock had previously closed at $87.29.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Canaccord Genuity Group decreased their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $114.00 target price on shares of Spectrum Brands in a research note on Friday, June 7th. Monness Crespi & Hardt boosted their target price on Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Wells Fargo & Company boosted their target price on Spectrum Brands from $85.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Spectrum Brands has an average rating of “Hold” and a consensus price target of $99.57.

Spectrum Brands Trading Down 2.6 %

The company has a market capitalization of $2.48 billion, a P/E ratio of 1.77, a price-to-earnings-growth ratio of 0.37 and a beta of 1.19. The business has a fifty day moving average price of $88.76 and a 200 day moving average price of $84.12. The company has a quick ratio of 3.05, a current ratio of 3.73 and a debt-to-equity ratio of 0.61.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 9th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $1.13. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The company had revenue of $718.50 million for the quarter, compared to analyst estimates of $708.54 million. During the same period in the previous year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts expect that Spectrum Brands Holdings, Inc. will post 4.68 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.68 annualized dividend and a yield of 1.98%. Spectrum Brands’s dividend payout ratio is 3.40%.

Institutional Trading of Spectrum Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new stake in Spectrum Brands during the first quarter worth approximately $27,000. Central Pacific Bank Trust Division bought a new stake in Spectrum Brands during the first quarter worth $30,000. Larson Financial Group LLC lifted its stake in Spectrum Brands by 72.6% during the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock worth $29,000 after purchasing an additional 151 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Spectrum Brands by 1,713.6% during the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock worth $32,000 after purchasing an additional 377 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in Spectrum Brands during the first quarter worth $42,000.

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.