KeyCorp Comments on Spectrum Brands Holdings, Inc.’s FY2017 Earnings (NYSE:SPB)

Spectrum Brands Holdings, Inc. (NYSE:SPB) – Investment analysts at KeyCorp decreased their FY2017 earnings estimates for Spectrum Brands Holdings in a report issued on Thursday. KeyCorp analyst J. Gere now expects that the company will earn $5.56 per share for the year, down from their prior estimate of $5.89. KeyCorp also issued estimates for Spectrum Brands Holdings’ FY2018 earnings at $6.07 EPS.

Several other research firms have also recently weighed in on SPB. Zacks Investment Research raised shares of Spectrum Brands Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $160.00 target price on shares of Spectrum Brands Holdings in a research note on Thursday, May 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $167.00 target price on shares of Spectrum Brands Holdings in a research note on Tuesday, May 2nd. BidaskClub cut shares of Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG cut their target price on shares of Spectrum Brands Holdings from $152.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Spectrum Brands Holdings has a consensus rating of “Buy” and a consensus target price of $143.88.

ILLEGAL ACTIVITY NOTICE: This report was reported by BNB Daily and is the property of of BNB Daily. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at https://www.baseball-news-blog.com/2017/08/19/keycorp-comments-on-spectrum-brands-holdings-inc-s-fy2017-earnings-nysespb-updated-updated.html.

Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 115.44 on Monday. The stock’s 50 day moving average is $125.23 and its 200-day moving average is $132.54. Spectrum Brands Holdings has a 12-month low of $108.30 and a 12-month high of $146.09. The company has a market capitalization of $6.78 billion, a P/E ratio of 23.64 and a beta of 0.69.

Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by $0.21. Spectrum Brands Holdings had a return on equity of 17.59% and a net margin of 5.87%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Spectrum Brands Holdings by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,020,401 shares of the company’s stock valued at $280,856,000 after buying an additional 32,915 shares in the last quarter. JPMorgan Chase & Co. raised its position in Spectrum Brands Holdings by 21.0% in the first quarter. JPMorgan Chase & Co. now owns 1,614,442 shares of the company’s stock valued at $224,423,000 after buying an additional 280,396 shares in the last quarter. BlackRock Inc. raised its position in Spectrum Brands Holdings by 5,054.7% in the first quarter. BlackRock Inc. now owns 1,208,769 shares of the company’s stock valued at $168,030,000 after buying an additional 1,185,319 shares in the last quarter. Acadian Asset Management LLC raised its position in Spectrum Brands Holdings by 15.1% in the first quarter. Acadian Asset Management LLC now owns 1,132,417 shares of the company’s stock valued at $157,414,000 after buying an additional 148,833 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Spectrum Brands Holdings by 18.2% in the second quarter. Bessemer Group Inc. now owns 1,048,499 shares of the company’s stock valued at $131,105,000 after buying an additional 161,567 shares in the last quarter. 47.38% of the stock is owned by institutional investors and hedge funds.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 15th will be paid a $0.42 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.46%. Spectrum Brands Holdings’s payout ratio is currently 34.29%.

About Spectrum Brands Holdings

Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.

Earnings History and Estimates for Spectrum Brands Holdings (NYSE:SPB)

Receive News & Ratings for Spectrum Brands Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply