Shares of EnerSys (NYSE:ENS) shot up 0% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $81.00 and last traded at $79.16. 658,800 shares changed hands during trading, an increase of 200% from the average session volume of 219,815 shares. The stock had previously closed at $79.16.
The industrial products company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.01. EnerSys had a return on equity of 18.02% and a net margin of 3.94%. The firm had revenue of $683.00 million for the quarter, compared to the consensus estimate of $669.19 million. During the same quarter last year, the business posted $1.28 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.70 dividend on an annualized basis and a yield of 0.88%. EnerSys’s payout ratio is 14.74%.
A number of brokerages recently commented on ENS. Zacks Investment Research upgraded EnerSys from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Monday, April 9th. TheStreet downgraded EnerSys from a “b” rating to a “c+” rating in a research report on Friday, February 9th. Sidoti downgraded EnerSys from a “buy” rating to a “neutral” rating and set a $79.00 price objective on the stock. in a research report on Tuesday, January 23rd. Finally, ValuEngine downgraded EnerSys from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $76.67.
Hedge funds have recently bought and sold shares of the business. Adviser Investments LLC acquired a new stake in EnerSys during the first quarter worth $103,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in EnerSys by 45.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,468 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 769 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in EnerSys during the first quarter worth $236,000. Fox Run Management L.L.C. acquired a new stake in EnerSys during the fourth quarter worth $244,000. Finally, Meadow Creek Investment Management LLC increased its stake in EnerSys by 26.5% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,784 shares of the industrial products company’s stock worth $264,000 after acquiring an additional 792 shares during the last quarter. 98.71% of the stock is owned by institutional investors.
The company has a debt-to-equity ratio of 0.61, a current ratio of 3.47 and a quick ratio of 2.53. The company has a market capitalization of $3.09 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.40 and a beta of 1.48.
EnerSys Company Profile
EnerSys manufactures, markets, and distributes industrial batteries. The company offers chargers, outdoor cabinet enclosures, power equipment, and battery accessories, as well as related after-market and customer-support services for industrial batteries. It also provides reserve power products that are used for backup power for the continuous operation of critical applications in telecommunications systems, uninterruptible power systems applications for computer and computer-controlled systems, and other specialty power applications, including medical and security systems, premium starting, lighting, and ignition applications, as well as in switchgear, electrical control systems used in electric utilities, large-scale energy storage, energy pipelines, commercial aircraft, satellites, military aircraft, submarines, ships, and tactical vehicles.
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