EnerSys (NYSE:ENS) Hits New 52-Week High on Earnings Beat

EnerSys (NYSE:ENS – Get Rating)’s share price reached a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $97.99 and last traded at $97.29, with a volume of 36180 shares. The stock had previously closed at $96.22.

The industrial products company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.44. The firm had revenue of $990.00 million during the quarter, compared to analysts’ expectations of $953.05 million. EnerSys had a return on equity of 15.11% and a net margin of 4.74%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share.

EnerSys Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, June 15th. EnerSys’s dividend payout ratio is currently 16.43%.

Wall Street Analysts Forecast Growth

ENS has been the subject of several analyst reports. Oppenheimer upped their price target on EnerSys from $99.00 to $110.00 in a research note on Friday. StockNews.com initiated coverage on EnerSys in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ENS. HighTower Advisors LLC acquired a new position in EnerSys during the first quarter worth $264,000. Bank of Montreal Can grew its holdings in EnerSys by 12.9% during the first quarter. Bank of Montreal Can now owns 10,670 shares of the industrial products company’s stock worth $812,000 after acquiring an additional 1,221 shares during the period. MetLife Investment Management LLC grew its holdings in EnerSys by 35.1% during the first quarter. MetLife Investment Management LLC now owns 47,723 shares of the industrial products company’s stock worth $3,559,000 after acquiring an additional 12,406 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in EnerSys by 8.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,118 shares of the industrial products company’s stock worth $1,127,000 after acquiring an additional 1,229 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in EnerSys by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,403,889 shares of the industrial products company’s stock worth $104,691,000 after acquiring an additional 101,062 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

EnerSys Price Performance

The stock has a fifty day moving average of $83.71 and a two-hundred day moving average of $81.52. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 0.98 and a beta of 1.36. The company has a quick ratio of 1.54, a current ratio of 2.79 and a debt-to-equity ratio of 0.72.

About EnerSys

(Get Rating)

EnerSys engages in the provision of stored energy solutions for industrial applications. It operates through the following segments: Energy Systems, Motive Power, and Specialty. The Energy Systems segment combines enclosures, power conversion, power distribution, and energy storage used in the telecommunication, broadband, and utility industries.