Spectrum Brands Holdings Inc. (NYSE:SPB) – KeyCorp boosted their Q2 2017 earnings per share (EPS) estimates for Spectrum Brands Holdings in a note issued to investors on Wednesday. KeyCorp analyst J. Gere now forecasts that the brokerage will post earnings of $1.27 per share for the quarter, up from their prior forecast of $1.26. KeyCorp also issued estimates for Spectrum Brands Holdings’ Q3 2017 earnings at $1.94 EPS, Q4 2017 earnings at $1.54 EPS and FY2017 earnings at $5.88 EPS.
Other equities research analysts have also recently issued reports about the company. Jefferies Group restated a “buy” rating and set a $143.00 target price on shares of Spectrum Brands Holdings in a research report on Wednesday, June 22nd. Zacks Investment Research upgraded Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Saturday, June 18th. Monness Crespi & Hardt raised their target price on Spectrum Brands Holdings from $138.00 to $151.00 and gave the company a “buy” rating in a research report on Thursday, September 29th. Finally, Deutsche Bank AG restated a “buy” rating and set a $140.00 target price (up from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Eight investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $142.50.
Shares of Spectrum Brands Holdings (NYSE:SPB) traded up 0.49% during midday trading on Friday, reaching $134.92. The company’s stock had a trading volume of 283,555 shares. Spectrum Brands Holdings has a 52 week low of $87.65 and a 52 week high of $138.95. The stock has a market capitalization of $8.01 billion, a PE ratio of 27.41 and a beta of 0.65. The company has a 50 day moving average price of $132.75 and a 200-day moving average price of $121.79.
Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis.
In other Spectrum Brands Holdings news, SVP Stacey L. Neu sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $128.04, for a total value of $102,432.00. Following the transaction, the senior vice president now directly owns 3,850 shares of the company’s stock, valued at approximately $492,954. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David M. Maura bought 2,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was acquired at an average cost of $127.47 per share, for a total transaction of $254,940.00. The disclosure for this purchase can be found here. 0.95% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Spectrum Brands Holdings by 42.5% in the second quarter. FMR LLC now owns 2,707,671 shares of the company’s stock worth $323,052,000 after buying an additional 806,895 shares during the period. First Trust Advisors LP raised its position in Spectrum Brands Holdings by 58.6% in the second quarter. First Trust Advisors LP now owns 1,073,829 shares of the company’s stock worth $128,119,000 after buying an additional 396,790 shares during the period. Newbrook Capital Advisors LP acquired a new position in Spectrum Brands Holdings during the first quarter worth $37,112,000. Credit Agricole S A raised its position in Spectrum Brands Holdings by 542.6% in the first quarter. Credit Agricole S A now owns 393,711 shares of the company’s stock worth $43,025,000 after buying an additional 332,446 shares during the period. Finally, Citadel Advisors LLC raised its position in Spectrum Brands Holdings by 93.7% in the second quarter. Citadel Advisors LLC now owns 617,683 shares of the company’s stock worth $73,695,000 after buying an additional 298,774 shares during the period. 45.41% of the stock is currently owned by institutional investors and hedge funds.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
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