StockNews.com Lowers Energizer (NYSE:ENR) to Hold

StockNews.com downgraded shares of Energizer (NYSE:ENR) from a buy rating to a hold rating in a research note published on Tuesday morning.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Energizer from $34.00 to $35.00 and gave the company a neutral rating in a research report on Wednesday, August 9th. Truist Financial lowered shares of Energizer from a buy rating to a hold rating and decreased their target price for the company from $40.00 to $35.00 in a research report on Monday, August 28th. Royal Bank of Canada decreased their target price on shares of Energizer from $43.00 to $40.00 and set an outperform rating on the stock in a research report on Wednesday, August 9th. Morgan Stanley decreased their target price on shares of Energizer from $36.00 to $33.00 and set an equal weight rating on the stock in a research report on Wednesday, August 9th. Finally, Barclays decreased their target price on shares of Energizer from $42.00 to $40.00 and set an overweight rating on the stock in a research report on Thursday, July 20th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Energizer has an average rating of Hold and an average target price of $36.00.

Energizer Stock Performance

NYSE:ENR opened at $34.39 on Tuesday. The firm’s 50-day moving average is $34.59 and its 200-day moving average is $33.96. Energizer has a 52-week low of $24.81 and a 52-week high of $37.89. The company has a debt-to-equity ratio of 20.23, a quick ratio of 1.11 and a current ratio of 2.16. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -10.06 and a beta of 1.01.

Energizer (NYSE:ENR) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.12). Energizer had a positive return on equity of 135.74% and a negative net margin of 8.24%. The company had revenue of $699.40 million for the quarter, compared to the consensus estimate of $743.05 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Energizer will post 3.04 earnings per share for the current year.

Energizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be given a $0.30 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.20 dividend on an annualized basis and a yield of 3.49%. Energizer’s dividend payout ratio (DPR) is presently -35.09%.

Hedge Funds Weigh In On Energizer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Energizer by 32.1% during the first quarter. FMR LLC now owns 6,328,708 shares of the company’s stock worth $219,606,000 after purchasing an additional 1,537,008 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Energizer during the fourth quarter worth approximately $22,902,000. Vanguard Group Inc. lifted its position in shares of Energizer by 6.4% during the first quarter. Vanguard Group Inc. now owns 7,147,097 shares of the company’s stock worth $219,845,000 after purchasing an additional 430,866 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Energizer by 115.8% during the second quarter. Goldman Sachs Group Inc. now owns 553,681 shares of the company’s stock worth $15,697,000 after purchasing an additional 297,086 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Energizer by 5.9% during the second quarter. JPMorgan Chase & Co. now owns 5,246,987 shares of the company’s stock worth $176,194,000 after purchasing an additional 291,655 shares in the last quarter. 83.74% of the stock is currently owned by institutional investors and hedge funds.

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.