Energizer (NYSE:ENR) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Energizer (NYSE:ENR) posted its quarterly earnings data on Tuesday. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.05, Briefing.com reports. The business had revenue of $663.30 million during the quarter, compared to analysts’ expectations of $664.10 million. Energizer had a net margin of 3.21% and a return on equity of 123.29%. Energizer’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. Energizer updated its Q3 guidance to $0.62-0.68 EPS and its FY24 guidance to $3.10-3.30 EPS.

Energizer Price Performance

Shares of ENR stock traded up $0.08 during trading hours on Wednesday, hitting $29.05. 252,581 shares of the company’s stock were exchanged, compared to its average volume of 499,812. The company has a current ratio of 2.03, a quick ratio of 1.15 and a debt-to-equity ratio of 19.36. Energizer has a 12-month low of $26.92 and a 12-month high of $37.32. The business’s 50 day simple moving average is $28.41 and its 200-day simple moving average is $30.51. The company has a market capitalization of $2.09 billion, a PE ratio of 22.72 and a beta of 1.04.

Energizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Wednesday, May 22nd will be given a $0.30 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $1.20 dividend on an annualized basis and a yield of 4.13%. Energizer’s payout ratio is 93.02%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ENR shares. Morgan Stanley upgraded shares of Energizer from an “underweight” rating to an “equal weight” rating and set a $33.00 price objective for the company in a report on Wednesday. StockNews.com downgraded Energizer from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Canaccord Genuity Group cut their price objective on shares of Energizer from $33.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday. Truist Financial cut their price target on shares of Energizer from $35.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Barclays lowered their price objective on Energizer from $36.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.71.

About Energizer

Energizer Holdings, Inc, together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer, Eveready, and Rayovac brands; primary, rechargeable, specialty, and hearing aid batteries; and handheld, headlights, lanterns, and area lights, as well as flashlights under the Hard Case, Dolphin, and WeatherReady brands.