Spectrum Brands Holdings Inc. (NYSE:SPB) Announces $0.47 Quarterly Dividend

Spectrum Brands Holdings Inc. (NYSE:SPB) declared a quarterly dividend on Tuesday, February 3rd. Stockholders of record on Tuesday, February 17th will be given a dividend of 0.47 per share on Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, February 17th.

Spectrum Brands has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. Spectrum Brands has a dividend payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Spectrum Brands to earn $5.81 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 32.4%.

Spectrum Brands Stock Up 2.2%

SPB stock traded up $1.49 during mid-day trading on Wednesday, reaching $68.47. The company had a trading volume of 127,210 shares, compared to its average volume of 327,499. Spectrum Brands has a fifty-two week low of $49.99 and a fifty-two week high of $83.50. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 17.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 2.26. The firm has a fifty day simple moving average of $61.35 and a 200 day simple moving average of $57.15.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, November 13th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $0.77 by $1.84. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The company had revenue of $733.50 million during the quarter, compared to analysts’ expectations of $738.57 million. During the same quarter in the previous year, the business posted $0.97 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. Analysts forecast that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on SPB shares. Canaccord Genuity Group boosted their target price on Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a report on Monday, November 17th. Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Wells Fargo & Company lifted their target price on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $75.00 price target on shares of Spectrum Brands in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.