Spectrum Brands Holdings Inc (NYSE:SPB) Declares $0.42 Quarterly Dividend

Spectrum Brands Holdings Inc (NYSE:SPB) announced a quarterly dividend on Wednesday, April 24th, Wall Street Journal reports. Stockholders of record on Tuesday, May 14th will be paid a dividend of 0.42 per share on Tuesday, June 4th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, May 13th.

Spectrum Brands has raised its dividend payment by an average of 8.4% annually over the last three years. Spectrum Brands has a payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Spectrum Brands to earn $3.78 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 44.4%.

Shares of NYSE SPB traded down $1.00 during midday trading on Thursday, reaching $55.25. 419,000 shares of the company’s stock were exchanged, compared to its average volume of 548,480. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 2.66 and a beta of 1.93. Spectrum Brands has a 52-week low of $40.54 and a 52-week high of $92.72. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.82 and a current ratio of 1.60.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.12). The firm had revenue of $906.70 million during the quarter, compared to analyst estimates of $874.57 million. Spectrum Brands had a return on equity of 6.03% and a net margin of 24.97%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. As a group, research analysts predict that Spectrum Brands will post 2.77 EPS for the current year.

A number of equities analysts recently commented on SPB shares. Monness Crespi & Hardt reiterated a “buy” rating and issued a $77.00 price target (up from $64.00) on shares of Spectrum Brands in a research note on Thursday, May 9th. Deutsche Bank lifted their target price on Spectrum Brands from $52.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Zacks Investment Research upgraded Spectrum Brands from a “strong sell” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Thursday, April 11th. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $62.00 price objective on shares of Spectrum Brands in a research report on Wednesday, May 8th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $57.39.

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About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.

Further Reading: 52-Week High/Low

Dividend History for Spectrum Brands (NYSE:SPB)

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