Energizer (NYSE:ENR) Updates Q3 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Truist Financial reduced their price target on Energizer from $35.00 to $30.00 and set a hold rating on the stock in a research report on Wednesday. Canaccord Genuity Group reduced their price target 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 price target on the stock in a research report on Wednesday. Barclays dropped their price objective on Energizer from $36.00 to $32.00 and set an overweight rating on the stock in a report on Friday, April 12th. Finally, StockNews.com downgraded Energizer from a buy rating to a hold rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $32.71.

Energizer Stock Performance

NYSE:ENR traded up $0.32 during mid-day trading on Wednesday, reaching $29.29. 498,181 shares of the stock were exchanged, compared to its average volume of 502,746. The company has a quick ratio of 1.15, a current ratio of 2.03 and a debt-to-equity ratio of 19.36. Energizer has a 1 year low of $26.92 and a 1 year high of $37.32. The company has a 50 day simple moving average of $28.41 and a 200-day simple moving average of $30.51. The stock has a market capitalization of $2.10 billion, a P/E ratio of 22.72 and a beta of 1.04.

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

Energizer Announces Dividend

The business 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. The ex-dividend date is Tuesday, May 21st. This represents a $1.20 dividend on an annualized basis and a yield of 4.10%. Energizer’s payout ratio is 93.02%.

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.