Enersys (NYSE:ENS) Trading Down 10.2% on Disappointing Earnings
Enersys (NYSE:ENS)’s share price was down 10.2% on Thursday following a weaker than expected earnings announcement. The company traded as low as $63.26 and last traded at $64.99, with a volume of 772,649 shares. The stock had previously closed at $72.36.
The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by $0.01. The business had revenue of $622.60 million for the quarter, compared to analyst estimates of $615.77 million. Enersys had a return on equity of 19.57% and a net margin of 6.77%. Enersys’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.175 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.70 annualized dividend and a yield of 1.08%. Enersys’s dividend payout ratio (DPR) is 19.23%.
Enersys announced that its board has initiated a stock repurchase program on Wednesday, August 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the industrial products company to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have issued reports on ENS shares. Zacks Investment Research raised Enersys from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Monday, May 8th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Enersys in a research note on Thursday, May 4th. Finally, ValuEngine raised Enersys from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $84.33.
In other news, VP Kerry M. Kane sold 4,413 shares of Enersys stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $82.16, for a total value of $362,572.08. Following the completion of the sale, the vice president now directly owns 17,210 shares of the company’s stock, valued at $1,413,973.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Holger P. Aschke sold 3,000 shares of Enersys stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $81.00, for a total value of $243,000.00. Following the completion of the sale, the insider now directly owns 28,928 shares of the company’s stock, valued at $2,343,168. The disclosure for this sale can be found here. Insiders sold 7,676 shares of company stock valued at $627,462 over the last ninety days. Insiders own 1.40% of the company’s stock.
Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Enersys by 7.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,699 shares of the industrial products company’s stock worth $123,000 after buying an additional 122 shares during the last quarter. First Interstate Bank boosted its stake in shares of Enersys by 0.4% in the first quarter. First Interstate Bank now owns 2,375 shares of the industrial products company’s stock worth $187,000 after buying an additional 10 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Enersys during the first quarter worth $205,000. World Asset Management Inc boosted its stake in shares of Enersys by 0.9% in the first quarter. World Asset Management Inc now owns 2,669 shares of the industrial products company’s stock worth $211,000 after buying an additional 25 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Enersys during the fourth quarter worth $216,000. 95.86% of the stock is owned by institutional investors and hedge funds.
The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 17.85 and a beta of 1.65. The firm’s 50 day moving average price is $72.54 and its 200 day moving average price is $77.18.
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Enersys Company Profile
EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.
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