EnerSys (NYSE:ENS) Reaches New 12-Month High on Better-Than-Expected Earnings

EnerSys (NYSE:ENS – Get Rating) shares hit a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $97.99 and last traded at $97.29, with a volume of 36180 shares. The stock had previously closed at $96.22.

The industrial products company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.44. EnerSys had a return on equity of 15.11% and a net margin of 4.74%. The company had revenue of $990.00 million during the quarter, compared to analysts’ expectations of $953.05 million. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year.

EnerSys Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a dividend of $0.175 per share. The ex-dividend date is Thursday, June 15th. This represents a $0.70 annualized dividend and a dividend yield of 0.71%. EnerSys’s dividend payout ratio is presently 16.43%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com assumed coverage on EnerSys in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. Oppenheimer upped their price objective on EnerSys from $99.00 to $110.00 in a research note on Friday.

Institutional Investors Weigh In On EnerSys

A number of large investors have recently bought and sold shares of ENS. SkyView Investment Advisors LLC acquired a new position in EnerSys during the 1st quarter worth $87,000. JPMorgan Chase & Co. lifted its holdings in EnerSys by 32.3% during the 1st quarter. JPMorgan Chase & Co. now owns 120,770 shares of the industrial products company’s stock worth $10,492,000 after buying an additional 29,481 shares in the last quarter. Harvest Portfolios Group Inc. acquired a new position in EnerSys during the 1st quarter worth $955,000. Cim Investment Management Inc. lifted its holdings in EnerSys by 3.6% during the 1st quarter. Cim Investment Management Inc. now owns 6,559 shares of the industrial products company’s stock worth $570,000 after buying an additional 226 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its holdings in EnerSys by 218.3% during the 1st quarter. Susquehanna International Group LLP now owns 23,305 shares of the industrial products company’s stock worth $2,025,000 after buying an additional 15,983 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

EnerSys Stock Performance

The firm has a fifty day simple moving average of $83.71 and a 200-day simple moving average of $81.52. The company has a current ratio of 2.79, a quick ratio of 1.54 and a debt-to-equity ratio of 0.72. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 0.98 and a beta of 1.36.

About EnerSys

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EnerSys engages in the provision of stored energy solutions for industrial applications. It operates through the following segments: Energy Systems, Motive Power, and Specialty. The Energy Systems segment combines enclosures, power conversion, power distribution, and energy storage used in the telecommunication, broadband, and utility industries.