Spectrum Brands (NYSE:SPB) Shares Gap Down After Earnings Miss

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $93.86, but opened at $90.95. Spectrum Brands shares last traded at $89.10, with a volume of 35,035 shares traded.

The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The firm had revenue of $773.70 million for the quarter, compared to the consensus estimate of $747.80 million. During the same quarter in the previous year, the company posted $1.36 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year.

Spectrum Brands Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s dividend payout ratio (DPR) is currently 47.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPB shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, August 9th. UBS Group lifted their price target on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company increased their price objective on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.88.

Institutional Trading of Spectrum Brands

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in Spectrum Brands by 5.7% in the first quarter. Russell Investments Group Ltd. now owns 54,154 shares of the company’s stock worth $4,820,000 after acquiring an additional 2,927 shares in the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Spectrum Brands during the 1st quarter valued at about $209,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Spectrum Brands in the 1st quarter worth approximately $42,000. CANADA LIFE ASSURANCE Co boosted its stake in Spectrum Brands by 19.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 44,827 shares of the company’s stock worth $3,995,000 after buying an additional 7,227 shares in the last quarter. Finally, Natixis grew its position in Spectrum Brands by 402.5% during the first quarter. Natixis now owns 28,589 shares of the company’s stock valued at $2,545,000 after acquiring an additional 22,900 shares during the last quarter.

Spectrum Brands Price Performance

The stock has a market capitalization of $2.52 billion, a PE ratio of 25.28, a P/E/G ratio of 0.26 and a beta of 1.23. The firm’s 50 day simple moving average is $91.58 and its 200 day simple moving average is $89.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61.

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.