Energizer (NYSE:ENR) Hits New 52-Week Low Following Weak Earnings

Shares of Energizer Holdings, Inc. (NYSE:ENR) hit a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $23.26 and last traded at $23.04, with a volume of 89108 shares. The stock had previously closed at $23.87.

The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). Energizer had a return on equity of 168.16% and a net margin of 2.02%. The firm had revenue of $662.90 million for the quarter, compared to analysts’ expectations of $670.85 million. During the same period last year, the firm earned $0.72 EPS. Energizer’s revenue was down .1% compared to the same quarter last year.

Energizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Wednesday, May 21st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend is Wednesday, May 21st. Energizer’s dividend payout ratio is presently 164.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ENR shares. UBS Group cut their price target on shares of Energizer from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial dropped their target price on Energizer from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com lowered shares of Energizer from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Barclays dropped their target price on Energizer from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on Energizer from $36.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Energizer by 86.4% during the 4th quarter. GAMMA Investing LLC now owns 768 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares in the last quarter. CX Institutional bought a new stake in shares of Energizer during the first quarter valued at about $33,000. Public Employees Retirement System of Ohio acquired a new stake in Energizer in the fourth quarter worth about $43,000. Curat Global LLC bought a new position in shares of Energizer in the first quarter valued at approximately $53,000. Finally, Smartleaf Asset Management LLC lifted its position in Energizer by 94.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,554 shares of the company’s stock worth $54,000 after purchasing an additional 753 shares during the period. Institutional investors own 93.74% of the company’s stock.

Energizer Trading Up 0.9 %

The company has a debt-to-equity ratio of 22.17, a quick ratio of 0.94 and a current ratio of 1.80. The business has a 50 day simple moving average of $27.99 and a 200-day simple moving average of $32.19. The stock has a market capitalization of $1.60 billion, a P/E ratio of 28.01 and a beta of 0.77.

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.