FY2023 EPS Estimates for Spectrum Brands Holdings, Inc. Increased by Zacks Research (NYSE:SPB)

Posted by Defense World Staff on Oct 19th, 2023

Spectrum Brands Holdings, Inc. (NYSE:SPB – Free Report) – Research analysts at Zacks Research lifted their FY2023 earnings per share (EPS) estimates for shares of Spectrum Brands in a research report issued to clients and investors on Monday, October 16th. Zacks Research analyst R. Lohia now anticipates that the company will post earnings per share of $1.22 for the year, up from their prior estimate of $1.13. The consensus estimate for Spectrum Brands’ current full-year earnings is $1.36 per share. Zacks Research also issued estimates for Spectrum Brands’ Q4 2023 earnings at $0.93 EPS, Q2 2024 earnings at $0.39 EPS, Q3 2024 earnings at $1.28 EPS, Q4 2024 earnings at $0.74 EPS, Q3 2025 earnings at $1.27 EPS and Q4 2025 earnings at $0.77 EPS.

Several other equities research analysts also recently issued reports on the company. Canaccord Genuity Group increased their price objective on Spectrum Brands from $87.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Royal Bank of Canada began coverage on shares of Spectrum Brands in a research report on Wednesday, August 23rd. They set an “outperform” rating and a $96.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Spectrum Brands from $85.00 to $90.00 in a research note on Wednesday, June 21st. Finally, StockNews.com initiated coverage on shares of Spectrum Brands in a research note on Thursday, October 5th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.67.

Check Out Our Latest Research Report on Spectrum Brands

Spectrum Brands Price Performance

SPB opened at $77.00 on Wednesday. Spectrum Brands has a 12-month low of $41.31 and a 12-month high of $85.25. The company has a quick ratio of 1.94, a current ratio of 2.23 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $2.75 billion, a P/E ratio of 1.73, a PEG ratio of 0.71 and a beta of 1.37. The stock has a fifty day moving average of $79.22 and a 200-day moving average of $75.26.

Spectrum Brands (NYSE:SPB – Get Free Report) last released its quarterly earnings results on Friday, August 11th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.27. Spectrum Brands had a net margin of 61.47% and a return on equity of 1.99%. The business had revenue of $735.50 million for the quarter, compared to analyst estimates of $785.39 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. The firm’s revenue was down 10.1% compared to the same quarter last year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Tuesday, August 29th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Monday, August 28th. Spectrum Brands’s dividend payout ratio is 3.77%.

Insiders Place Their Bets

In related news, CEO David M. Maura bought 5,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were bought at an average cost of $82.89 per share, for a total transaction of $414,450.00. Following the completion of the acquisition, the chief executive officer now directly owns 693,816 shares in the company, valued at $57,510,408.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO David M. Maura acquired 5,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of $82.89 per share, with a total value of $414,450.00. Following the acquisition, the chief executive officer now owns 693,816 shares in the company, valued at approximately $57,510,408.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ehsan Zargar acquired 843 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $82.98 per share, for a total transaction of $69,952.14. Following the completion of the purchase, the executive vice president now directly owns 117,335 shares in the company, valued at approximately $9,736,458.30. The disclosure for this purchase can be found here. Insiders acquired 15,843 shares of company stock valued at $1,276,452 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Spectrum Brands

Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in Spectrum Brands by 351.9% during the 1st quarter. Acadian Asset Management LLC now owns 6,422 shares of the company’s stock worth $568,000 after acquiring an additional 5,001 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Spectrum Brands by 1,012.7% during the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares during the last quarter. Bridgewater Associates LP boosted its stake in Spectrum Brands by 306.4% during the 1st quarter. Bridgewater Associates LP now owns 90,590 shares of the company’s stock valued at $8,037,000 after purchasing an additional 68,300 shares during the period. First Trust Advisors LP grew its holdings in Spectrum Brands by 89.6% in the 1st quarter. First Trust Advisors LP now owns 160,082 shares of the company’s stock valued at $14,202,000 after buying an additional 75,658 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Spectrum Brands by 62.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 23,300 shares of the company’s stock worth $2,067,000 after buying an additional 9,000 shares during the period.

Spectrum Brands Company Profile

(Get Free Report)

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. 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, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.