Spectrum Brands EPS Beats Estimates, Price Target Raised to $85
Oppenheimer upheld an Outperform rating on Spectrum Brands and boosted its price target from $75 to $85 after the company delivered quarterly EPS of $1.40, beating consensus by $0.63. The consumer-products firm also declared a $0.47 per share dividend and posted $677 million in revenue, ahead of estimates.
1. Analyst Rating and Price Target Increase
Oppenheimer maintained an Outperform rating on Spectrum Brands and raised its price target from $75 to $85 following the company’s strong quarterly earnings performance.
2. Quarterly Earnings Performance
Spectrum Brands reported earnings per share of $1.40, surpassing the consensus estimate of $0.77 by $0.63, on quarterly revenue of $677 million versus estimates of $667.6 million.
3. Dividend Declaration
The company announced a quarterly dividend of $0.47 per share, payable March 10 to shareholders of record February 17, reinforcing its commitment to returning cash to investors.
4. Stock Performance Metrics
Following the earnings release, shares gapped up from $68.44 to an intraday high of $77.21, marking a 10.2% jump, with year-to-date trading volume elevated at approximately 887,617 shares.