Spectrum Brands (NYSE:SPB) Shares Gap Down After Earnings Miss

Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report) gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $93.86, but opened at $90.95. Spectrum Brands shares last traded at $89.10, with a volume of 35,035 shares changing hands.

The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The firm had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The business's revenue for the quarter was up 4.5% on a year-over-year basis.

Spectrum Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, November 26th. This is a positive change from Spectrum Brands's previous quarterly dividend of $0.42. Spectrum Brands's payout ratio is currently 47.46%.

Analyst Ratings Changes

A number of research firms have recently commented on SPB. UBS Group boosted their price objective on Spectrum Brands from $111.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Finally, Wells Fargo & Company increased their price objective on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have issued 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 $101.88.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Waldron Private Wealth LLC purchased a new position in shares of Spectrum Brands during the 3rd quarter worth $27,000. Brooklyn Investment Group purchased a new position in Spectrum Brands during the third quarter worth about $31,000. Versant Capital Management Inc boosted its holdings in Spectrum Brands by 1,923.8% in the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company's stock valued at $37,000 after purchasing an additional 404 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Spectrum Brands in the 1st quarter valued at approximately $42,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company's stock worth $45,000 after buying an additional 471 shares during the last quarter.

Spectrum Brands Trading Down 6.1 %

The stock has a market cap of $2.47 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.26 and a beta of 1.23. The company's 50-day moving average price is $91.57 and its 200 day moving average price is $89.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28.

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.