Spectrum Brands Holdings, Inc. (NYSE:SPB) to Issue $0.42 Quarterly Dividend

Spectrum Brands Holdings, Inc. (NYSE:SPB) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Tuesday, May 28th will be given a dividend of 0.42 per share on Tuesday, June 18th. This represents a $1.68 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, May 24th.

Spectrum Brands has a payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Spectrum Brands to earn $4.47 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 37.6%.

Spectrum Brands Trading Up 11.8 %

Shares of NYSE:SPB traded up $9.96 during trading on Thursday, reaching $94.48. 775,078 shares of the company were exchanged, compared to its average volume of 365,699. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.36 and a quick ratio of 2.75. The firm has a market capitalization of $2.86 billion, a PE ratio of 2.03, a P/E/G ratio of 0.59 and a beta of 1.20. The business’s fifty day simple moving average is $83.30 and its 200-day simple moving average is $79.47. Spectrum Brands has a 12-month low of $65.27 and a 12-month high of $95.27.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.47. Spectrum Brands had a return on equity of 4.66% and a net margin of 63.89%. The business had revenue of $692.20 million during the quarter, compared to analyst estimates of $674.20 million. During the same period in the previous year, the company posted ($0.32) EPS. Spectrum Brands’s revenue was down 3.0% on a year-over-year basis. On average, research analysts anticipate that Spectrum Brands will post 3.79 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on SPB. Canaccord Genuity Group restated a “hold” rating and issued a $86.00 price objective (up from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Canaccord Genuity Group cut shares of Spectrum Brands from a “buy” rating to a “hold” rating and upped their price target for the stock from $83.00 to $86.00 in a research report on Friday, February 9th. Monness Crespi & Hardt lifted their price objective on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada upped their target price on Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company lifted their price target on Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.00.

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.