Royal Bank Of Canada Reiterates “$155.00” Price Target for Spectrum Brands Holdings, Inc. (NYSE:SPB)
Several other analysts have also recently issued reports on SPB. Wells Fargo & Company reaffirmed a buy rating on shares of Spectrum Brands Holdings in a research report on Thursday, July 27th. BMO Capital Markets dropped their target price on Spectrum Brands Holdings from $155.00 to $140.00 and set an outperform rating on the stock in a research report on Friday. Zacks Investment Research cut Spectrum Brands Holdings from a hold rating to a sell rating in a research report on Saturday. Jefferies Group LLC reaffirmed a buy rating and set a $150.00 target price (down previously from $165.00) on shares of Spectrum Brands Holdings in a research report on Thursday, July 6th. Finally, BidaskClub cut Spectrum Brands Holdings from a hold rating to a sell rating in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $143.88.
Spectrum Brands Holdings (NYSE SPB) opened at 115.44 on Friday. The stock has a market cap of $6.78 billion, a PE ratio of 23.64 and a beta of 0.69. The firm’s 50-day moving average price is $125.23 and its 200-day moving average price is $132.54. Spectrum Brands Holdings has a 52 week low of $108.30 and a 52 week high of $146.09.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Thursday, July 27th. The company reported $1.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by $0.21. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.38 billion. Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.59%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.73 EPS. Equities analysts predict that Spectrum Brands Holdings will post $5.76 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.46%. Spectrum Brands Holdings’s payout ratio is 34.29%.
Hedge funds have recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Spectrum Brands Holdings during the second quarter worth approximately $100,000. Daiwa Securities Group Inc. increased its position in Spectrum Brands Holdings by 33.3% in the second quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock worth $100,000 after buying an additional 200 shares during the period. Invictus RG bought a new position in Spectrum Brands Holdings during the first quarter worth approximately $156,000. Envestnet Asset Management Inc. increased its position in Spectrum Brands Holdings by 1.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,463 shares of the company’s stock worth $179,000 after buying an additional 21 shares during the period. Finally, TD Asset Management Inc. bought a new position in Spectrum Brands Holdings during the first quarter worth approximately $211,000. 47.38% of the stock is owned by hedge funds and other institutional investors.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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