Spectrum Brands Holdings, Inc. (NYSE:SPB) Expected to Announce Quarterly Sales of $1.03 Billion


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Brokerages expect that Spectrum Brands Holdings, Inc. (NYSE:SPB) will post $1.03 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Spectrum Brands’ earnings. Spectrum Brands posted sales of $937.80 million during the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The company is expected to issue its next earnings results before the market opens on Friday, May 7th.

According to Zacks, analysts expect that Spectrum Brands will report full-year sales of $4.32 billion for the current fiscal year, with estimates ranging from $4.31 billion to $4.33 billion. For the next year, analysts anticipate that the firm will report sales of $4.36 billion, with estimates ranging from $4.30 billion to $4.42 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Spectrum Brands.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 4th. The company reported $2.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $1.36. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.02 billion. Spectrum Brands had a return on equity of 13.35% and a net margin of 2.46%. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share.

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Spectrum Brands from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, February 8th. Zacks Investment Research cut shares of Spectrum Brands from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a report on Monday, April 12th. Royal Bank of Canada raised their target price on shares of Spectrum Brands from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Friday, February 19th. Oppenheimer raised their target price on shares of Spectrum Brands from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday, January 5th. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $100.00 target price (up previously from $85.00) on shares of Spectrum Brands in a report on Monday, February 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $84.29.

NYSE:SPB traded down $0.45 during mid-day trading on Tuesday, reaching $88.06. The stock had a trading volume of 205,918 shares, compared to its average volume of 316,001. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 0.81 and a beta of 1.94. Spectrum Brands has a 1-year low of $35.03 and a 1-year high of $92.12. The stock’s 50 day simple moving average is $87.33 and its two-hundred day simple moving average is $77.04. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.83 and a quick ratio of 1.24.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Spectrum Brands by 0.4% during the fourth quarter. BlackRock Inc. now owns 1,706,728 shares of the company’s stock valued at $134,797,000 after acquiring an additional 6,127 shares during the period. Wells Fargo & Company MN grew its position in Spectrum Brands by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,220,075 shares of the company’s stock worth $96,361,000 after buying an additional 6,986 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Spectrum Brands by 11.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 932,554 shares of the company’s stock worth $73,653,000 after buying an additional 93,627 shares during the last quarter. Norges Bank acquired a new position in Spectrum Brands in the fourth quarter worth approximately $51,991,000. Finally, Artemis Investment Management LLP acquired a new position in Spectrum Brands in the fourth quarter worth approximately $41,076,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

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 and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell Manufacturing brands; and plumbing products under the Pfister brand.

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