Spectrum Brands Holdings Inc. (NYSE:SPB) Plans $0.47 Quarterly Dividend

Spectrum Brands Holdings Inc. (NYSE:SPB) announced a quarterly dividend on Tuesday, November 11th. Shareholders of record on Monday, November 24th will be given a dividend of 0.47 per share on Tuesday, December 9th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, November 24th.

Spectrum Brands has a dividend payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Spectrum Brands to earn $5.81 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 Stock Up 1.9%

Shares of SPB stock traded up $0.96 during mid-day trading on Wednesday, hitting $52.54. The company’s stock had a trading volume of 240,854 shares, compared to its average volume of 493,774. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 19.63 and a beta of 0.82. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $96.62. The business has a 50-day moving average price of $53.66 and a 200 day moving average price of $56.01.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPB. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the company an “outperform” rating in a report on Monday, August 11th. Wall Street Zen downgraded shares of Spectrum Brands from a “hold” rating to a “sell” rating in a research report on Monday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Spectrum Brands in a report on Wednesday, October 8th. Canaccord Genuity Group lowered their target price on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Finally, Wells Fargo & Company reduced their price target on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Spectrum Brands has an average rating of “Moderate Buy” and an average price target of $73.80.

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.