2018 was a busy year for Spectrum, as the company merged with majority shareholder MRG Group, and the company sold its battery and lighting business to Energizer Holdings ( NYSE:ENR) earlier this year. Just last week, Spectrum said it would sell its auto-care business to Energizer for $1.25 billion, which sent Spectrum stock down sharply as well.
Full Answer
Why is Spectrum Brands Holdings shares trading higher Wednesday?
Shares of Spectrum Brands Holdings ( SPB -0.64% ) traded up 17.8% on Wednesday after the company announced plans to sell its hardware and home improvement assets in a deal worth $4.3 billion. The company intends to use the proceeds to clean up its balance sheet, and investors are cheering that decision.
What is Spectrum Brands'stock symbol?
Spectrum Brands trades on the New York Stock Exchange (NYSE) under the ticker symbol "SPB." Who are Spectrum Brands' major shareholders? Spectrum Brands' stock is owned by many different institutional and retail investors.
What is Spectrum Brands'price targets for the next year?
On average, they expect Spectrum Brands' stock price to reach $119.00 in the next year. This suggests a possible upside of 33.7% from the stock's current price. View analysts' price targets for Spectrum Brands or view top-rated stocks among Wall Street analysts.
Why did Spectrum Pharmaceuticals stock crash 26% on Friday?
Shares of Spectrum Pharmaceuticals ( NASDAQ:SPPI) were crashing 26.3% lower as of 11:14 a.m. EDT on Friday. The big decline came after the company announced that the U.S. Food and Drug Administration turned down approval of Rolontis in treating neutropenia in patients receiving cancer drugs that decrease bone marrow activity.
Is Spectrum Brands a good stock to buy?
Spectrum Brands has received a consensus rating of Buy. The company's average rating score is 2.88, and is based on 7 buy ratings, 1 hold rating, and no sell ratings.
How is spectrum doing in the stock market?
Stock Quote (U.S.: NYSE) | MarketWatch....$ 79.98.CloseChgChg %$79.98-0.28-0.35%
Who owns the most spectrum stock?
Top HoldersHolderShares HeldFiling DateFidelity Management & Research Company LLC3,988,5063/31/22The Vanguard Group, Inc.3,955,5493/31/22Allspring Global Investments, LLC2,533,0043/31/22American Century Investment Management, Inc.2,255,8263/31/226 more rows
Is SPB stock a buy?
Spectrum Brands Holdings Inc (NYSE:SPB) The 7 analysts offering 12-month price forecasts for Spectrum Brands Holdings Inc have a median target of 120.00, with a high estimate of 145.00 and a low estimate of 114.00. The median estimate represents a +49.98% increase from the last price of 80.01.
What stock should I buy now?
The Dow's Top Dividend Stocks Right NowMcDonald's. Market value: $183.3 billion.Home Depot. Market value: $290.9 billion. Dividend yield: 2.7% ... Coca-Cola. Market value: $273.3 billion. Dividend yield: 2.8% ... Merck. Market value: $235.5 billion. Dividend yield: 3.0% ... Goldman Sachs. Market value: $104 billion. Dividend yield: 2.6% ...
What are the best stocks to invest in?
Best Value StocksPrice ($)Market Cap ($B)Cleveland-Cliffs Inc. (CLF)16.488.6Azenta Inc. (AZTA)74.295.6eBay Inc. (EBAY)45.6725.62 more rows
Who owns the 5G spectrum?
Telecom Companies Just Spent $81 Billion on 5G Spectrum. Here's What Verizon, AT&T, and T-Mobile Bought. The winning bidders in a record-breaking auction of licenses for wireless spectrum were revealed on Wednesday, and Verizon Communications took the lion's share.
Who is buying spectrum?
Verizon Wireless said Friday it had agreed to purchase spectrum licenses for $3.6 billion from a group of companies that included Comcast and Time Warner Cable, part of a push to meet growing consumer demand for wireless services.
Is spectrum being bought out by AT&T?
AT&T said it will spend $1.6 billion to acquire Straight Path Communications in an all-stock deal aimed at bulking up the carrier's portfolio of millimeter wave spectrum. Straight Path shareholders will receive $1.25 billion, or $95.63 per share, to be paid in AT&T stock.
Is Superior Plus Corp a good buy?
It's had lots of ups and downs. They have a good business model, almost monopolizing propane in Canada. However, SPB doesn't have any control over the price of propane, which creates stock volatility, but overall it's a good company.
Is Superior Plus stock a buy?
Great news for investors – Superior Plus is still trading at a fairly cheap price. According to my valuation, the intrinsic value for the stock is CA$18.21, but it is currently trading at CA$14.03 on the share market, meaning that there is still an opportunity to buy now.
Is Superior Plus dividend safe?
Superior Plus is expected to earn $1.30 this year in U.S. dollars, giving the company a projected payout ratio of 44% for 2022. The dividend appears to be safe for the foreseeable future thanks to the low payout ratio.
Should I buy or sell Spectrum Brands stock right now?
8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Spectrum Brands in the last twelve months. There are currently 1 hold rati...
What is Spectrum Brands' stock price forecast for 2022?
8 analysts have issued 1-year price targets for Spectrum Brands' stock. Their SPB stock forecasts range from $114.00 to $125.00. On average, they a...
How has Spectrum Brands' stock price performed in 2022?
Spectrum Brands' stock was trading at $101.72 at the beginning of the year. Since then, SPB stock has decreased by 18.1% and is now trading at $83....
When is Spectrum Brands' next earnings date?
Spectrum Brands is scheduled to release its next quarterly earnings announcement on Friday, August 5th 2022. View our earnings forecast for Spectr...
How were Spectrum Brands' earnings last quarter?
Spectrum Brands Holdings, Inc. (NYSE:SPB) posted its earnings results on Friday, May, 6th. The company reported $0.41 earnings per share for the qu...
How often does Spectrum Brands pay dividends? What is the dividend yield for Spectrum Brands?
Spectrum Brands announced a quarterly dividend on Tuesday, May 3rd. Shareholders of record on Thursday, May 19th will be paid a dividend of $0.42 p...
Is Spectrum Brands a good dividend stock?
Spectrum Brands(NYSE:SPB) pays an annual dividend of $1.68 per share and currently has a dividend yield of 2.02%. The dividend payout ratio of Spec...
Who are Spectrum Brands' key executives?
Spectrum Brands' management team includes the following people: Mr. David M. Maura C.F.A. , Exec. Chairman & CEO (Age 50, Pay $3.21M) Mr. Jeremy...
What is David Maura's approval rating as Spectrum Brands' CEO?
68 employees have rated Spectrum Brands CEO David Maura on Glassdoor.com . David Maura has an approval rating of 57% among Spectrum Brands' employ...
Shares of the household-products maker sold off on a weak earnings report
Fool since 2011. I write about consumer goods, the big picture, and whatever else piques my interest. Follow me on Twitter to see my latest articles, and for commentary on hot topics in retail and the broad market. Follow @tmfbowman
What happened
Shares of Spectrum Brands Holdings Inc. ( NYSE:SPB) were falling today after the parent of household-product brands like Rayovac, Remington, and Iams posted a disappointing fourth-quarter earnings report. As of 11:12 a.m. EST, the stock was down 19.3%.
So what
Organic sales increased 0.4% in the period, and overall revenue was unchanged at $787.8 million, but that missed estimates at $801 million. Its home and garden and global pet supplies segments were particularly weak, seeing revenue fall 6.2% and 2.3%, respectively.
Now what
Investors don't seem to agree with Maura's assessment, and the company's outlook for 2019 did little to assuage their concerns. Management called for meaningful sales growth from continuing operations in 2018 but projected full-year adjusted EBITDA of $560 to $580 million, which was below the analyst consensus at $635.8 million.
How much does Spectrum Brands make?
Spectrum Brands has a market capitalization of $3.49 billion and generates $3.96 billion in revenue each year. The company earns $97.80 million in net income (profit) each year or $4.10 on an earnings per share basis.
When will Spectrum release its earnings?
Spectrum Brands is scheduled to release its next quarterly earnings announcement on Friday, July 30th 2021. View our earnings forecast for Spectrum Brands.
What is the dividend payout ratio of Spectrum Brands?
Spectrum Brands does not yet have a strong track record of dividend growth. The dividend payout ratio of Spectrum Brands is 40.98%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Spectrum Brands will have a dividend payout ratio of 26.84% next year.
NASDAQ: SPPI
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What happened
Shares of Spectrum Pharmaceuticals ( SPPI -2.56% ) were crashing 26.3% lower as of 11:14 a.m. EDT on Friday. The big decline came after the company announced that the U.S. Food and Drug Administration turned down approval of Rolontis in treating neutropenia in patients receiving cancer drugs that decrease bone marrow activity.
So what
There's good news and bad news for Spectrum with the FDA's rejection of Rolontis. The bad news is obvious: Spectrum won't be able to market the drug as soon as it would like. The good news, though, is that it isn't the end of the road for Rolontis.
Now what
Spectrum stated in a press release that it plans to meet with the FDA as soon as possible to receive more clarification on the manufacturing issues. "We are disappointed with this outcome and look forward to fully understanding the remediation timelines for the program," CEO Joe Turgeon said in a statement.
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The company announced a major deal to clean up its balance sheet
Lou has followed the markets for more than two decades, developing extensive contacts including industry leaders, consultants, regulators, and labor representatives. He spends a lot of time these days focused on the industrials and financials.
What happened
Shares of Spectrum Brands Holdings ( NYSE:SPB) traded up 17.8% on Wednesday after the company announced plans to sell its hardware and home improvement assets in a deal worth $4.3 billion. The company intends to use the proceeds to clean up its balance sheet, and investors are cheering that decision.
So what
On Wednesday morning, Spectrum announced an agreement to sell brands including Kwikset locks to Assa Abloy ( OTC:ASAZY) of Sweden. Spectrum said it expects net proceeds of $3.5 billion from the deal, after taxes, which will be used to pay down its debt.
Now what
Spectrum's brands include home appliances under the Black & Decker and George Foreman brands, Cutter and Repel insect repellents, and Tetra aquarium supplies, among others. It is an impressive list of household names, but Spectrum's nearly $3 billion in long-term debt, an amount similar to its market capitalization, has long been a criticism.
Wrapping Up
All said, we believe that Spectrum Brands is likely to sustain its stellar show, driven by robust demand in the pet segment, contributions from the global productivity improvement plan and a positive fiscal 2021 view.
Other Stocks to Consider
Crocs CROX, a Zacks Rank #1 (Strong Buy) stock, has an impressive long-term earnings growth rate of 15%.
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Nicholas has been a writer for the Motley Fool since 2015, covering companies primarily in the consumer goods and technology sectors. He is also the founder and president of Concinnus Financial, a Registered Investment Advisor based in Spokane, WA. He enjoys the outdoors up and down the West Coast with his wife and their Humane Society-rescued dog.
The year in review
For starters, let's acknowledge that even after a rally of 46% so far in 2019, with just two weeks left to go in the year as I write, Spectrum is still some 50% below the 21st-century high it hit back in 2017. A superficial look might suggest that the company is still a solid investment, and in some ways it is.
Better days are ahead
Here's the good news: Though the overall 2019 results were nothing to write home about, Spectrum exited the fiscal year with a 2% revenue increase in Q4. Its remaining home and personal care businesses are forecast to all grow in 2020, which is expected to result in low single-digit-percentage revenue growth overall.
