EnerSys (NYSE:ENS) Shares Gap Up Following Better-Than-Expected Earnings

Shares of EnerSys (NYSE:ENS) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $97.38, but opened at $104.00. EnerSys shares last traded at $106.92, with a volume of 66,823 shares traded.

The industrial products company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.06. The company had revenue of $910.70 million for the quarter, compared to analysts’ expectations of $893.64 million. EnerSys had a net margin of 7.51% and a return on equity of 20.41%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.82 EPS.

EnerSys Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.225 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.90 dividend on an annualized basis and a yield of 0.84%. EnerSys’s payout ratio is presently 13.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com lowered EnerSys from a “strong-buy” rating to a “buy” rating in a research note on Friday. BTIG Research lowered shares of EnerSys from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Oppenheimer downgraded shares of EnerSys from an “outperform” rating to a “market perform” rating in a report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $126.00.

Institutional Trading of EnerSys

Large investors have recently added to or reduced their stakes in the company. Silver Lake Advisory LLC increased its position in shares of EnerSys by 0.5% during the 4th quarter. Silver Lake Advisory LLC now owns 27,261 shares of the industrial products company’s stock valued at $2,752,000 after purchasing an additional 126 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of EnerSys by 2.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,471 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 126 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of EnerSys by 5.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,604 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 127 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of EnerSys by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 50,752 shares of the industrial products company’s stock valued at $4,794,000 after purchasing an additional 154 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of EnerSys by 1.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,431 shares of the industrial products company’s stock valued at $952,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

EnerSys Trading Down 0.7 %

The stock has a market cap of $4.33 billion, a P/E ratio of 16.49, a P/E/G ratio of 0.83 and a beta of 1.35. The company has a current ratio of 2.67, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $93.49 and a two-hundred day moving average price of $93.73.

About EnerSys

EnerSys provides various stored energy solutions for industrial applications worldwide. It operates in three segments: Energy Systems, Motive Power, and Specialty. The company offers uninterruptible power systems applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, renewable, and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.