Energizer (NYSE:ENR) Shares Gap Down Following Weak Earnings

Energizer Holdings, Inc. (NYSE:ENR - Get Free Report)'s share price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $25.88, but opened at $24.50. Energizer shares last traded at $24.12, with a volume of 232,634 shares trading hands.

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

Energizer Dividend Announcement

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

Analyst Upgrades and Downgrades

ENR has been the subject of a number of research reports. Barclays reduced their price objective on Energizer from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday. UBS Group dropped their price objective on shares of Energizer from $28.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $38.00 target price on shares of Energizer in a report on Thursday, January 30th. Truist Financial dropped their price target on shares of Energizer from $40.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Energizer from $36.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Energizer has an average rating of "Hold" and a consensus price target of $31.50.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Inspire Investing LLC boosted its stake in shares of Energizer by 166.3% in the fourth quarter. Inspire Investing LLC now owns 34,692 shares of the company's stock worth $1,210,000 after acquiring an additional 21,667 shares during the period. Vista Investment Partners LLC bought a new position in Energizer in the 4th quarter worth approximately $553,000. Smartleaf Asset Management LLC grew its holdings in Energizer by 94.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,554 shares of the company's stock valued at $54,000 after buying an additional 753 shares in the last quarter. KBC Group NV raised its position in shares of Energizer by 5,308.0% during the fourth quarter. KBC Group NV now owns 89,664 shares of the company's stock valued at $3,128,000 after buying an additional 88,006 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Energizer by 8.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,023,083 shares of the company's stock worth $35,695,000 after buying an additional 80,163 shares in the last quarter. Institutional investors own 93.74% of the company's stock.

Energizer Trading Down 2.7 %

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

Energizer Company Profile

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.