Research Analysts Set Expectations for Enersys’ Q2 2018 Earnings (ENS)
Enersys (NYSE:ENS) – Equities research analysts at Oppenheimer Holdings cut their Q2 2018 EPS estimates for shares of Enersys in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst N. Kaye now forecasts that the industrial products company will post earnings per share of $1.03 for the quarter, down from their prior estimate of $1.05. Oppenheimer Holdings has a “Buy” rating and a $77.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Enersys’ Q3 2018 earnings at $1.17 EPS, FY2018 earnings at $4.62 EPS and FY2019 earnings at $5.05 EPS.
Enersys (NYSE:ENS) last issued its earnings results on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.01). Enersys had a return on equity of 18.90% and a net margin of 6.86%. The company had revenue of $622.60 million during the quarter, compared to analyst estimates of $615.77 million. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis.
Several other research analysts also recently commented on ENS. Zacks Investment Research downgraded shares of Enersys from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. BidaskClub downgraded shares of Enersys from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. ValuEngine downgraded shares of Enersys from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Sidoti upgraded shares of Enersys from a “neutral” rating to a “buy” rating and set a $83.00 price target for the company in a report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $80.00.
A number of institutional investors and hedge funds have recently modified their holdings of ENS. BlackRock Inc. boosted its position in Enersys by 17,956.9% during the first quarter. BlackRock Inc. now owns 4,444,522 shares of the industrial products company’s stock valued at $350,852,000 after acquiring an additional 4,419,908 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Enersys during the 2nd quarter worth about $116,256,000. Boston Partners boosted its position in shares of Enersys by 47.8% during the 2nd quarter. Boston Partners now owns 2,676,099 shares of the industrial products company’s stock worth $193,884,000 after purchasing an additional 866,056 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Enersys during the 2nd quarter worth about $41,347,000. Finally, Vanguard Group Inc. boosted its position in shares of Enersys by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 3,710,902 shares of the industrial products company’s stock worth $292,939,000 after purchasing an additional 318,032 shares in the last quarter. 93.35% of the stock is currently owned by institutional investors and hedge funds.
Enersys declared that its board has initiated a share buyback program on Wednesday, August 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Enersys Company Profile
EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.
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