EnerSys Trading 5.5% Higher After Strong Earnings (ENS)
EnerSys (NYSE:ENS) traded up 5.5% during mid-day trading on Thursday following a better than expected earnings announcement, AnalystRatings.NET reports. The stock traded as high as $70.00 and last traded at $69.11, with a volume of 231,913 shares trading hands. The stock had previously closed at $65.53.
The company reported $1.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.11 by $0.07. The company had revenue of $665.20 million for the quarter, compared to the consensus estimate of $657.87 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 16.3% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.07%.
Separately, analysts at Ned Davis Research upgraded shares of EnerSys from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $74.98.
The stock’s 50-day moving average is $67.63 and its 200-day moving average is $68.88. The company has a market cap of $3.223 billion and a P/E ratio of 18.50.
EnerSys, is a manufacturer, marketer and distributor of industrial batteries. It manufactures , market and distributes related products, such as chargers, power equipment and battery accessories, and it provides related after-market and customer-support services for industrial batteries.
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