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

Spectrum Brands Holdings, Inc. (NYSE:SPB) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.47 per share on Tuesday, March 11th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Tuesday, February 18th.

Spectrum Brands has increased its dividend by an average of 1.0% per year over the last three years. Spectrum Brands has a payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Spectrum Brands to earn $5.69 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 33.0%.

Spectrum Brands Stock Performance

Spectrum Brands stock traded up $0.80 during midday trading on Wednesday, reaching $82.99. 616,734 shares of the company traded hands, compared to its average volume of 374,381. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. The business has a 50 day moving average of $87.05 and a two-hundred day moving average of $89.17. Spectrum Brands has a 12 month low of $77.92 and a 12 month high of $96.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The business had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. During the same quarter in the previous year, the business posted $1.36 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, research analysts predict that Spectrum Brands will post 5.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPB. UBS Group lowered their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Canaccord Genuity Group lifted their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company reduced their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.75.

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.