EnerSys (NYSE:ENS) Shares Gap Up Following Earnings Beat

EnerSys (NYSE:ENS)’s share price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $97.38, but opened at $104.00. EnerSys shares last traded at $106.92, with a volume of 66,823 shares traded.

The industrial products company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.06. EnerSys had a return on equity of 20.09% and a net margin of 7.49%. The company had revenue of $910.70 million during the quarter, compared to analysts’ expectations of $893.64 million. During the same quarter in the prior year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ENS. StockNews.com raised EnerSys from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 6th. Oppenheimer cut EnerSys from an “outperform” rating to a “market perform” rating in a research note on Friday, February 9th.

Institutional Trading of EnerSys

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of EnerSys by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,396,164 shares of the industrial products company’s stock valued at $415,262,000 after purchasing an additional 60,021 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of EnerSys by 1.1% during the first quarter. Janus Henderson Group PLC now owns 1,306,505 shares of the industrial products company’s stock valued at $123,412,000 after purchasing an additional 14,531 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of EnerSys by 3.8% during the first quarter. Principal Financial Group Inc. now owns 894,688 shares of the industrial products company’s stock valued at $84,512,000 after purchasing an additional 32,730 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of EnerSys by 36.2% during the third quarter. Invesco Ltd. now owns 852,077 shares of the industrial products company’s stock valued at $80,666,000 after purchasing an additional 226,630 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of EnerSys by 3.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 750,960 shares of the industrial products company’s stock valued at $75,817,000 after purchasing an additional 22,202 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

EnerSys Stock Performance

The firm has a market capitalization of $4.33 billion, a PE ratio of 16.15, a P/E/G ratio of 0.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.67 and a quick ratio of 1.53. The firm has a fifty day moving average price of $92.83 and a 200 day moving average price of $93.49.

EnerSys Company Profile

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.