Energizer (NYSE:ENR) Given New $27.00 Price Target at Canaccord Genuity Group

Energizer (NYSE:ENR) had its price objective cut by Canaccord Genuity Group from $31.00 to $27.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Energizer from $36.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. StockNews.com lowered shares of Energizer from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Truist Financial dropped their price target on Energizer from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price objective on shares of Energizer in a research report on Thursday, January 30th. Finally, UBS Group dropped their target price on Energizer from $36.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.00.

Energizer Trading Down 8.4 %

ENR stock opened at $21.87 on Wednesday. Energizer has a 12-month low of $21.81 and a 12-month high of $39.52. The business’s 50-day moving average is $28.15 and its 200 day moving average is $32.26. The company has a current ratio of 1.80, a quick ratio of 0.94 and a debt-to-equity ratio of 22.17. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 27.68 and a beta of 0.77.

Energizer (NYSE:ENR) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Energizer had a return on equity of 168.16% and a net margin of 2.02%. The firm had revenue of $662.90 million during the quarter, compared to analyst estimates of $670.85 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that Energizer will post 3.58 EPS for the current fiscal year.

Energizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Wednesday, May 21st. Energizer’s dividend payout ratio (DPR) is presently 164.38%.

Institutional Trading of Energizer

A number of hedge funds and other institutional investors have recently modified their holdings of ENR. Millennium Management LLC boosted its stake in Energizer by 66.7% during the fourth quarter. Millennium Management LLC now owns 1,240,038 shares of the company’s stock worth $43,265,000 after buying an additional 496,146 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Energizer in the 4th quarter worth approximately $11,718,000. Brandywine Global Investment Management LLC purchased a new position in shares of Energizer during the 4th quarter worth approximately $7,685,000. Balyasny Asset Management L.P. increased its holdings in Energizer by 427.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 269,901 shares of the company’s stock valued at $9,417,000 after purchasing an additional 218,759 shares during the last quarter. Finally, Norges Bank purchased a new stake in Energizer in the fourth quarter valued at approximately $7,277,000. 93.74% of the stock is owned by institutional investors and hedge funds.

About Energizer

Energizer Holdings, Inc, together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer, Eveready, and Rayovac brands; primary, rechargeable, specialty, and hearing aid batteries; and handheld, headlights, lanterns, and area lights, as well as flashlights under the Hard Case, Dolphin, and WeatherReady brands.