Energizer (NYSE:ENR) Updates Q3 Earnings Guidance

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

Energizer Stock Performance

ENR traded up $0.32 during trading hours on Wednesday, reaching $29.29. The company’s stock had a trading volume of 498,181 shares, compared to its average volume of 502,746. Energizer has a 52 week low of $26.92 and a 52 week high of $37.32. The company’s 50-day moving average is $28.41 and its 200-day moving average is $30.51. The company has a debt-to-equity ratio of 19.36, a quick ratio of 1.15 and a current ratio of 2.03. The firm has a market cap of $2.10 billion, a PE ratio of 22.72 and a beta of 1.04.

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

Energizer Dividend Announcement

The company also recently disclosed 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 4.10%. The ex-dividend date is Tuesday, May 21st. Energizer’s payout ratio is 93.02%.

Analyst Ratings Changes

Several research analysts have weighed in on ENR shares. Barclays lowered their price objective on Energizer from $36.00 to $32.00 and set an overweight rating on the stock in a research report on Friday, April 12th. Canaccord Genuity Group lowered their price objective on Energizer from $33.00 to $32.00 and set a hold rating on the stock in a research report on Wednesday. Morgan Stanley raised Energizer from an underweight rating to an equal weight rating and set a $33.00 target price on the stock in a report on Wednesday. StockNews.com lowered Energizer from a buy rating to a hold rating in a report on Wednesday, February 7th. Finally, UBS Group increased their target price on Energizer from $30.00 to $31.00 and gave the stock a neutral rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $32.71.

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.