Spectrum Brands Holdings, Inc. to Issue Quarterly Dividend of $0.42 (NYSE:SPB)

Spectrum Brands Holdings, Inc. (NYSE:SPB) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Tuesday, May 28th will be paid a dividend of 0.42 per share on Tuesday, June 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Friday, May 24th.

Spectrum Brands has a dividend payout ratio of 33.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Spectrum Brands to earn $5.36 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 31.3%.

Spectrum Brands Trading Down 2.1 %

Shares of SPB opened at $92.54 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.73 and a quick ratio of 3.05. The firm has a 50 day simple moving average of $85.65 and a 200-day simple moving average of $80.76. Spectrum Brands has a 1-year low of $65.27 and a 1-year high of $96.74. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 1.87, a price-to-earnings-growth ratio of 0.41 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The business had revenue of $718.50 million during the quarter, compared to analysts’ expectations of $708.54 million. During the same period last year, the company posted ($0.14) EPS. The company’s revenue was down 1.5% on a year-over-year basis. Equities analysts forecast that Spectrum Brands will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SPB. Canaccord Genuity Group raised their target price on shares of Spectrum Brands from $86.00 to $92.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Monness Crespi & Hardt raised their target price on shares of Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Royal Bank of Canada raised their target price on shares of Spectrum Brands from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spectrum Brands from $85.00 to $91.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, Canaccord Genuity Group lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating and raised their target price for the stock from $83.00 to $86.00 in a research report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spectrum Brands currently has an average rating of “Hold” and an average price target of $99.86.

About Spectrum Brands

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.