Spectrum Brands Holdings, Inc. (NYSE:SPB) to Issue Dividend Increase – $0.47 Per Share

Spectrum Brands Holdings, Inc. (NYSE:SPB) declared a quarterly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Stockholders of record on Tuesday, November 26th will be given a dividend of 0.47 per share on Tuesday, December 17th. This represents a $1.88 annualized dividend and a dividend yield of 2.08%. 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 has a dividend payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Spectrum Brands to earn $5.80 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 32.4%.

Spectrum Brands Price Performance

SPB opened at $90.45 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $91.45 and its 200 day moving average price is $89.73. Spectrum Brands has a fifty-two week low of $65.50 and a fifty-two week high of $96.74. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The company had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. During the same quarter in the previous year, the company posted $1.36 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts expect that Spectrum Brands will post 5.25 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SPB shares. Wells Fargo & Company boosted their price target 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Canaccord Genuity Group lifted their price target on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Monday, November 18th. Finally, UBS Group boosted their price objective on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.38.

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.