Zacks: Brokerages Expect Spectrum Brands Holdings Inc (SPB) to Post $1.28 Earnings Per Share

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Brokerages expect Spectrum Brands Holdings Inc (NYSE:SPB) to announce earnings per share of $1.28 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Spectrum Brands’ earnings. The highest EPS estimate is $1.47 and the lowest is $1.15. Spectrum Brands reported earnings of $1.76 per share in the same quarter last year, which would suggest a negative year over year growth rate of 27.3%. The firm is scheduled to report its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Spectrum Brands will report full year earnings of $2.75 per share for the current year, with EPS estimates ranging from $2.54 to $2.91. For the next financial year, analysts anticipate that the business will post earnings of $3.78 per share, with EPS estimates ranging from $3.49 to $3.96. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover Spectrum Brands.

Spectrum Brands (NYSE:SPB) last released its earnings results on Wednesday, May 8th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Spectrum Brands had a return on equity of 6.03% and a net margin of 24.97%. The firm had revenue of $906.70 million during the quarter, compared to analyst estimates of $874.57 million. During the same quarter last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis.

SPB has been the subject of a number of recent research reports. Monness Crespi & Hardt reissued a “buy” rating and issued a $77.00 price objective (up previously from $64.00) on shares of Spectrum Brands in a report on Thursday, May 9th. Wells Fargo & Co reiterated a “hold” rating and set a $62.00 target price on shares of Spectrum Brands in a research report on Wednesday, May 8th. Zacks Investment Research lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Deutsche Bank lifted their target price on shares of Spectrum Brands from $52.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Bank of America upgraded shares of Spectrum Brands from a “neutral” rating to a “buy” rating and lifted their target price for the company from $50.00 to $65.00 in a research report on Friday, January 18th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Spectrum Brands has a consensus rating of “Buy” and an average price target of $62.15.

Several hedge funds and other institutional investors have recently bought and sold shares of SPB. Geode Capital Management LLC increased its holdings in Spectrum Brands by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 426,735 shares of the company’s stock valued at $18,029,000 after buying an additional 31,502 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Spectrum Brands by 247.4% during the fourth quarter. Bank of New York Mellon Corp now owns 448,768 shares of the company’s stock worth $18,961,000 after purchasing an additional 319,592 shares in the last quarter. OLD National Bancorp IN increased its position in shares of Spectrum Brands by 17.7% during the fourth quarter. OLD National Bancorp IN now owns 10,633 shares of the company’s stock worth $449,000 after purchasing an additional 1,599 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Spectrum Brands by 83.9% during the third quarter. Teachers Advisors LLC now owns 48,024 shares of the company’s stock worth $3,588,000 after purchasing an additional 21,909 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Spectrum Brands by 115.8% during the third quarter. Vanguard Group Inc. now owns 3,759,477 shares of the company’s stock worth $280,909,000 after purchasing an additional 2,017,489 shares in the last quarter.

SPB traded down $0.07 on Wednesday, reaching $63.78. The company had a trading volume of 394,557 shares, compared to its average volume of 572,723. Spectrum Brands has a fifty-two week low of $40.54 and a fifty-two week high of $92.72. The firm has a market cap of $3.05 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 2.78 and a beta of 1.93. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.82 and a current ratio of 1.60.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, May 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.63%. Spectrum Brands’s dividend payout ratio is currently 47.46%.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.

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