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

Spectrum Brands Holdings, Inc. (NYSE:SPB) announced a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Stockholders of record on Tuesday, August 27th will be paid a dividend of 0.42 per share on Tuesday, September 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, August 27th.

Spectrum Brands has a payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Spectrum Brands to earn $5.37 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 Stock Down 1.2 %

SPB stock traded down $0.96 during mid-day trading on Wednesday, reaching $81.78. 650,724 shares of the company traded hands, compared to its average volume of 422,313. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 1.66, a P/E/G ratio of 0.36 and a beta of 1.19. The company has a quick ratio of 3.05, a current ratio of 3.73 and a debt-to-equity ratio of 0.61. Spectrum Brands has a fifty-two week low of $65.27 and a fifty-two week high of $96.74. The firm’s 50 day moving average price is $86.24 and its 200 day moving average price is $84.96.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, May 9th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $1.13. The business had revenue of $718.50 million during the quarter, compared to the consensus estimate of $708.54 million. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) EPS. As a group, equities research analysts predict that Spectrum Brands will post 4.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their price target on Spectrum Brands from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted 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. Canaccord Genuity Group dropped their target price on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 1st. Monness Crespi & Hardt lifted 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $114.00 target price on shares of Spectrum Brands in a research report on Friday, June 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.43.

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.