Spectrum Brands (SPB) Stock Climbed Despite Earnings Miss
NEW YORK (TheStreet) -- Shares of Spectrum Brands (SPB) - Get Report closed up by 2.89% to $95.12 on Thursday afternoon, following the release of the company's fourth quarter financial results today.
The Middleton, WI-based consumer products company reported fourth quarter net income of $26.5 million, or $1.13 per share on revenue that increased 11% year over year to $1.31 billion.
Both of those totals are below the $1.16 per share and $1.33 billion analysts were expecting the company to earn for the quarter.
For the current fiscal year, the company expects net sales to increase in the high-single digit percentage range versus analysts' consensus 9.2% growth expectations.
Separately, TheStreet Ratings team rates SPECTRUM BRANDS HOLDINGS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate SPECTRUM BRANDS HOLDINGS INC (SPB) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
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