EnerSys (NYSE:ENS) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

EnerSys (NYSE:ENS – Get Rating) released its earnings results on Wednesday. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.05, MarketWatch Earnings reports. The firm had revenue of $907.00 million for the quarter, compared to analyst estimates of $872.18 million. EnerSys had a return on equity of 12.75% and a net margin of 4.58%. EnerSys’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 earnings per share. EnerSys updated its Q1 2023 guidance to $1.10-$1.20 EPS and its Q1 guidance to $1.10-$1.20 EPS.

ENS stock traded up $1.61 during midday trading on Wednesday, reaching $64.97. The company had a trading volume of 338,206 shares, compared to its average volume of 279,616. EnerSys has a 1 year low of $59.92 and a 1 year high of $100.23. The company has a current ratio of 2.96, a quick ratio of 1.88 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $2.68 billion, a P/E ratio of 18.78, a PEG ratio of 1.18 and a beta of 1.40. The company has a 50 day moving average of $69.33 and a two-hundred day moving average of $73.63.

Several research firms have issued reports on ENS. StockNews.com began coverage on EnerSys in a report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research downgraded EnerSys from a “hold” rating to a “sell” rating and set a $74.00 price objective on the stock. in a report on Monday, February 14th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $96.33.

A number of hedge funds have recently modified their holdings of the business. Stifel Financial Corp increased its position in EnerSys by 2.5% in the 4th quarter. Stifel Financial Corp now owns 7,954 shares of the industrial products company’s stock worth $629,000 after purchasing an additional 191 shares during the last quarter. MML Investors Services LLC grew its position in EnerSys by 6.0% in the fourth quarter. MML Investors Services LLC now owns 3,588 shares of the industrial products company’s stock worth $284,000 after acquiring an additional 202 shares in the last quarter. Covestor Ltd grew its position in EnerSys by 58.2% in the first quarter. Covestor Ltd now owns 930 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 342 shares in the last quarter. Madison Asset Management LLC grew its position in EnerSys by 0.8% in the fourth quarter. Madison Asset Management LLC now owns 55,257 shares of the industrial products company’s stock worth $4,369,000 after acquiring an additional 427 shares in the last quarter. Finally, Sei Investments Co. grew its position in EnerSys by 7.3% in the fourth quarter. Sei Investments Co. now owns 8,580 shares of the industrial products company’s stock worth $677,000 after acquiring an additional 587 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

About EnerSys (Get Rating)

EnerSys provides various stored energy solutions for industrial applications worldwide. It operates in three segments: Energy Systems, Motive Power, and Specialty. The company offers uninterruptible power systems applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, renewable, and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.

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