Energizer (NYSE:ENR) Updates Q3 Earnings Guidance

Energizer (NYSE:ENR) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.62-0.68 for the period, compared to the consensus earnings per share estimate of $0.72. Energizer also updated its FY24 guidance to $3.10-3.30 EPS.

Energizer Stock Up 1.4 %

Shares of NYSE ENR traded up $0.40 during trading hours on Thursday, hitting $29.69. 203,543 shares of the stock were exchanged, compared to its average volume of 499,287. The company has a market cap of $2.13 billion, a PE ratio of 22.96 and a beta of 1.04. Energizer has a 12 month low of $26.92 and a 12 month high of $37.32. The company has a quick ratio of 1.15, a current ratio of 2.03 and a debt-to-equity ratio of 19.36. The firm has a fifty day moving average price of $28.42 and a 200-day moving average price of $30.51.

Energizer (NYSE:ENR) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The business had revenue of $663.30 million for the quarter, compared to analyst estimates of $664.10 million. Energizer had a return on equity of 123.29% and a net margin of 3.21%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, sell-side analysts expect that Energizer will post 3.21 EPS for the current year.

Energizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 22nd will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, May 21st. Energizer’s dividend payout ratio is currently 93.02%.

Analyst Ratings Changes

ENR has been the subject of several research reports. Morgan Stanley upgraded Energizer from an underweight rating to an equal weight rating and set a $33.00 price objective for the company in a research note on Wednesday. UBS Group lifted their target price on shares of Energizer from $30.00 to $31.00 and gave the stock a neutral rating in a research note on Wednesday. StockNews.com downgraded shares of Energizer from a buy rating to a hold rating in a research note on Wednesday, February 7th. Truist Financial cut their price objective 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 dropped their price target on Energizer from $32.00 to $31.00 and set an overweight rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $32.57.

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.