Spectrum Brands Likely To Post Lower Q3 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Lisa Levin
Spectrum Brands Holdings, Inc. (NYSE:SPB) is expected to report lower Q3 earnings for fiscal 2023, with analysts predicting earnings of 40 cents per share, down from 54 cents per share in the previous year. The company's revenue is also expected to decrease to $787.11 million from $818 million. Spectrum Brands shares fell 0.3% to close at $75.11 on Thursday. Recent analyst ratings include Wells Fargo's Overweight rating with a price target of $90, Oppenheimer's Outperform rating with a price target of $82, and Deutsche Bank's Hold rating with a price target of $70.
August 11, 2023 | 6:13 am
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Spectrum Brands is expected to report lower Q3 earnings and revenue, which may negatively impact its stock price. However, recent analyst ratings and price target changes suggest a positive outlook.
The expected decrease in earnings and revenue for Spectrum Brands could lead to a short-term decrease in its stock price. However, recent analyst ratings and price target changes from Wells Fargo, Oppenheimer, and Deutsche Bank suggest a positive outlook, which could mitigate the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100