Ennis (NYSE:EBF) Stock Price Down 8% Following Weak Earnings

Key Points

• Down 8%: Ennis shares fell about 8% after reporting quarterly EPS of $0.35 versus the $0.38 consensus, although revenue slightly beat at $96.36 million versus $95.10 million expected.
• 5.0% yield: The company declared a $0.25 quarterly dividend (annualized $1.00) with an ex-dividend date of April 13 and payment on May 4.
• Analyst upgrades: Recent upgrades from firms including Weiss Ratings and Wall Street Zen have moved EBF’s average MarketBeat rating to "Buy."

Ennis, Inc. (NYSE:EBF - Get Free Report) shares fell 8% on Monday following a dissappointing earnings announcement. The stock traded as low as $19.55 and last traded at $19.9450. 108,783 shares changed hands during trading, a decline of 36% from the average session volume of 169,655 shares. The stock had previously closed at $21.67.

The industrial products company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). The firm had revenue of $96.36 million for the quarter, compared to the consensus estimate of $95.10 million. Ennis had a net margin of 11.01% and a return on equity of 14.11%.

Ennis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Monday, April 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, April 13th. Ennis's payout ratio is currently 60.24%.

Analyst Ratings Changes

A number of analysts have issued reports on EBF shares. Weiss Ratings upgraded shares of Ennis from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 13th. Wall Street Zen upgraded shares of Ennis from a "hold" rating to a "buy" rating in a report on Saturday, January 10th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy".

Hedge Funds Weigh In On Ennis

A number of institutional investors and hedge funds have recently made changes to their positions in EBF. State of Alaska Department of Revenue purchased a new position in shares of Ennis during the 3rd quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Ennis by 1,037.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,524 shares of the industrial products company's stock worth $28,000 after purchasing an additional 1,390 shares during the period. WealthCollab LLC boosted its stake in shares of Ennis by 180.9% during the 4th quarter. WealthCollab LLC now owns 1,809 shares of the industrial products company's stock worth $33,000 after purchasing an additional 1,165 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Ennis by 56.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,456 shares of the industrial products company's stock worth $45,000 after purchasing an additional 890 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Ennis during the 4th quarter worth about $51,000. 74.33% of the stock is owned by hedge funds and other institutional investors.

Ennis Trading Down 8.0%

The business's 50 day moving average is $21.18 and its 200 day moving average is $19.07. The stock has a market capitalization of $504.47 million, a PE ratio of 12.02 and a beta of 0.31.

Ennis Company Profile

Ennis, Inc NYSE: EBF is a provider of print and related products and services designed to meet the needs of businesses and organizations across a variety of industries. Headquartered in Dallas, Texas, Ennis offers business forms, checks, manuals, labels, promotional signage and specialty packaging. The company also delivers e-commerce and software solutions that enable customers to manage orders, customize print jobs and streamline supply-chain processes through its integrated online platform.

Ennis's core product offerings include continuous business forms, laser checks and security-enhanced documents, as well as graphic communications materials such as brochures, catalogs and direct-mail collateral.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.