Spectrum Brands (NYSE:SPB) Hits New 12-Month Low Following Weak Earnings

Spectrum Brands Holdings, Inc. (NYSE:SPB) reached a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $56.50 and last traded at $64.06, with a volume of 862010 shares changing hands. The stock had previously closed at $61.88.

The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The company had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. During the same quarter in the previous year, the business earned $1.62 EPS. Spectrum Brands’s revenue was down 6.0% on a year-over-year basis.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands’s dividend payout ratio is currently 46.19%.

Analyst Ratings Changes

SPB has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Royal Bank of Canada lowered their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, UBS Group lifted their target price on Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.80.

Institutional Trading of Spectrum Brands

Hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in Spectrum Brands during the fourth quarter worth about $50,000. Versant Capital Management Inc increased its holdings in shares of Spectrum Brands by 101.7% during the first quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after purchasing an additional 489 shares during the period. Blue Trust Inc. raised its position in shares of Spectrum Brands by 46.5% in the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock valued at $100,000 after buying an additional 375 shares in the last quarter. KBC Group NV boosted its stake in shares of Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company’s stock valued at $104,000 after buying an additional 390 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in Spectrum Brands during the first quarter worth approximately $118,000.

Spectrum Brands Stock Performance

The stock has a market cap of $1.63 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $66.03 and a 200 day simple moving average of $79.15.

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.