Zacks Investment Research Downgrades Energizer Holdings, Inc. (NYSE:ENR) to Hold
Energizer Holdings, Inc. (NYSE:ENR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Energizer reported third-quarter fiscal 2017 results wherein adjusted earnings beat the Zacks Consensus Estimate but revenues missed the consensus mark. However, on a year over year basis, revenues grew 3% year over year driven by the acquisition of auto care business. Energizer is one of the leading names in the global batteries and lighting products business. The company’s battery business generates over 90% of the revenues. Acquisition of HandStands diversified its portfolio by including brands like Refresh Your Car!, California Scents and Eagle One. Acquisition and strong product portfolio will continue to drive top line. Energizer also has a strong shareholder returns plan in place, which is an added positive. However, battery business faces threat as these days devices come equipped with in-built batteries. Moreover, stiff competition and unfavorable forex fluctuations are added concerns. Shares have underperformed the broader market.”
A number of other equities analysts have also commented on the company. UBS AG reissued a “neutral” rating and issued a $47.00 price objective (down previously from $49.00) on shares of Energizer Holdings in a research note on Thursday. Deutsche Bank AG reduced their price objective on Energizer Holdings from $55.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price objective (down previously from $54.00) on shares of Energizer Holdings in a research note on Monday, July 24th. KeyCorp raised Energizer Holdings from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective on the stock in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Energizer Holdings in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Energizer Holdings has an average rating of “Hold” and a consensus target price of $53.86.
Shares of Energizer Holdings (ENR) traded up 1.21% during midday trading on Monday, hitting $41.69. 431,883 shares of the company were exchanged. The company’s 50 day moving average price is $48.23 and its 200 day moving average price is $52.90. The firm has a market cap of $2.58 billion, a P/E ratio of 13.84 and a beta of 0.57. Energizer Holdings has a one year low of $40.98 and a one year high of $60.07.
Energizer Holdings (NYSE:ENR) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $372 million for the quarter, compared to analyst estimates of $390.88 million. Energizer Holdings had a return on equity of 529.84% and a net margin of 10.97%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Equities analysts expect that Energizer Holdings will post $2.89 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake in shares of Energizer Holdings by 28.2% in the first quarter. Bank of America Corp DE now owns 1,525,675 shares of the company’s stock valued at $85,056,000 after buying an additional 336,062 shares during the period. BlackRock Inc. increased its stake in shares of Energizer Holdings by 12,028.5% in the first quarter. BlackRock Inc. now owns 5,258,322 shares of the company’s stock valued at $293,151,000 after buying an additional 5,214,967 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Energizer Holdings during the first quarter valued at about $1,168,000. UBS Asset Management Americas Inc. increased its stake in shares of Energizer Holdings by 10.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 66,773 shares of the company’s stock valued at $2,978,000 after buying an additional 6,445 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Energizer Holdings by 2.1% in the first quarter. Arizona State Retirement System now owns 25,800 shares of the company’s stock valued at $1,438,000 after buying an additional 535 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.
Energizer Holdings Company Profile
Energizer Holdings, Inc is a manufacturer, marketer and distributor of household batteries, specialty batteries and lighting products. The Company is a designer and marketer of automotive fragrance and appearance products. It operates through four geographic segments: North America, which consists of the United States and Canada; Latin America, which includes its markets in Mexico, the Caribbean, Central America and South America; Europe, the Middle East and Africa (EMEA), and Asia Pacific, which consists of its markets in Asia, Australia and New Zealand.
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