Spectrum Brands Holdings, Inc. (SPB) Hits New 12-Month Low at $105.22
Spectrum Brands Holdings, Inc. (NYSE:SPB) hit a new 52-week low during trading on Wednesday . The company traded as low as $105.22 and last traded at $105.24, with a volume of 136,671 shares changing hands. The stock had previously closed at $106.26.
A number of equities research analysts have recently commented on SPB shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $160.00 target price on shares of Spectrum Brands Holdings in a research report on Thursday, May 25th. BidaskClub cut shares of Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $150.00 target price (down from $165.00) on shares of Spectrum Brands Holdings in a research report on Thursday, July 6th. Zacks Investment Research cut shares of Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Spectrum Brands Holdings in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $146.38.
The stock has a market capitalization of $6.11 billion, a PE ratio of 21.55 and a beta of 0.68. The stock has a 50 day moving average of $112.97 and a 200-day moving average of $128.88.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Thursday, July 27th. The company reported $1.71 earnings per share for the quarter, missing the consensus estimate of $1.92 by $0.21. Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.46%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the firm posted $1.73 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Spectrum Brands Holdings, Inc. will post $5.60 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 15th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, August 11th. Spectrum Brands Holdings’s payout ratio is 34.29%.
A number of hedge funds have recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new position in Spectrum Brands Holdings in the 2nd quarter valued at about $5,852,000. Cubist Systematic Strategies LLC raised its stake in Spectrum Brands Holdings by 20.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,766 shares of the company’s stock valued at $346,000 after purchasing an additional 466 shares during the last quarter. State Street Corp raised its stake in Spectrum Brands Holdings by 2.6% in the 2nd quarter. State Street Corp now owns 569,855 shares of the company’s stock valued at $71,288,000 after purchasing an additional 14,196 shares during the last quarter. FTB Advisors Inc. raised its stake in Spectrum Brands Holdings by 16,710.6% in the 2nd quarter. FTB Advisors Inc. now owns 33,453 shares of the company’s stock valued at $4,080,000 after purchasing an additional 33,254 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Spectrum Brands Holdings in the 2nd quarter valued at about $12,046,000. 47.01% of the stock is owned by hedge funds and other institutional investors.
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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.