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

Spectrum Brands Holdings, Inc. (NYSE:SPB) announced a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Investors 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 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Tuesday, August 27th.

Spectrum Brands has a dividend payout ratio of 32.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Performance

SPB stock traded down $0.96 during midday trading on Wednesday, hitting $81.78. The company’s stock had a trading volume of 650,724 shares, compared to its average volume of 422,313. 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 $2.29 billion, a price-to-earnings ratio of 1.66, a PEG ratio of 0.36 and a beta of 1.19. The stock’s 50-day moving average price is $86.24 and its 200 day moving average price is $84.96. 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 (NYSE:SPB) last posted its quarterly earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.49 by $1.13. The company had revenue of $718.50 million during the quarter, compared to analyst estimates of $708.54 million. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. On average, equities analysts forecast that Spectrum Brands will post 4.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canaccord Genuity Group dropped their price objective on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 price target on shares of Spectrum Brands in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Oppenheimer boosted their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, Wells Fargo & Company lowered their target price on shares of Spectrum Brands from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $98.43.

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.