Energizer (NYSE:ENR) Reaches New 1-Year Low on Disappointing Earnings

Energizer Holdings, Inc. (NYSE:ENR - Get Free Report)'s share price reached a new 52-week low 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 changing hands. 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). The firm had revenue of $662.90 million for the quarter, compared to the consensus estimate of $670.85 million. Energizer had a net margin of 2.02% and a return on equity of 168.16%. The business's revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $0.72 earnings per share.

Energizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.20 annualized dividend and a dividend yield of 5.57%. Energizer's dividend payout ratio (DPR) is presently 164.38%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ENR. Truist Financial cut their price target on shares of Energizer from $40.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday. StockNews.com cut shares of Energizer from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Royal Bank of Canada restated a "sector perform" rating and issued a $38.00 price objective on shares of Energizer in a report on Thursday, January 30th. UBS Group reduced their target price on Energizer from $28.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on Energizer from $36.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Energizer presently has an average rating of "Hold" and a consensus price target of $31.50.

Hedge Funds Weigh In On Energizer

Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Energizer by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,002,988 shares of the company's stock worth $30,009,000 after purchasing an additional 37,678 shares in the last quarter. Vanguard Group Inc. increased its stake in Energizer by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 9,421,993 shares of the company's stock worth $281,906,000 after buying an additional 170,017 shares in the last quarter. LSV Asset Management increased its stake in Energizer by 28.4% in the 1st quarter. LSV Asset Management now owns 2,327,824 shares of the company's stock worth $69,648,000 after buying an additional 515,124 shares in the last quarter. Vestcor Inc raised its holdings in Energizer by 3.7% during the first quarter. Vestcor Inc now owns 13,448 shares of the company's stock valued at $402,000 after acquiring an additional 475 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Energizer by 27.3% in the first quarter. Mackenzie Financial Corp now owns 12,373 shares of the company's stock valued at $370,000 after acquiring an additional 2,653 shares in the last quarter. Hedge funds and other institutional investors own 93.74% of the company's stock.

Energizer Stock Performance

The business has a 50 day moving average price of $27.82 and a two-hundred day moving average price of $32.11. The stock has a market cap of $1.56 billion, a P/E ratio of 27.27 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 1.80 and a debt-to-equity ratio of 22.17.

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.