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Shares of Energizer Holdings Inc. (ENR - Analyst Report) reached a new 52-week high of $108.50 on Monday, Jul 15, 2013.

The closing price of Energizer on Jul 15 was $106.79, representing a strong one-year return of about 40.0% and a year-to-date return of about 31.1%. The S&P 500 jumped 24.3% and 15.0%, respectively during the same period. Average volume of shares traded over the last three months stands at approximately 480K.

Energizer delivered a positive average earnings surprise of 11.1% over the past four quarters. This Zacks Rank #3 (Hold) stock has a market cap of $6.73 billion and a long-term expected earnings growth rate of 11.0%.

Strong Second Quarter Results, Reiterates Outlook

Energizer reported second quarter earnings of $1.80 per share, which comfortably surpassed the Zacks Consensus Estimate by 51 cents.

Based on the strong results, Energizer reiterated its fiscal 2013 earnings guidance in the range of $6.75 to $7.00 per share. Energizer upped its restructuring outlook for fiscal 2013 to $50.0-$60.0 million from its earlier estimate of $25.0-$35.0 million.

As a result, gross savings from the restructuring project is expected to increase an additional $25.0 million to $225.0 million, of which $150.0 million is expected to be used for improving profitability, going forward.

Key Growth Catalysts

Besides restructuring savings, strict cost control is a significant near-term earnings growth driver in our view. Although increasing competition and sluggish growth in the blade & razor and battery market is expected to hurt the top line in the near term, we believe that the company’s innovative product pipeline will drive growth going forward.

Moreover, Energizer’s partnership with Unilever’s (UN - Analyst Report) AXE brand will boost its shaving market share, going forward. Additionally, this partnership will enhance Energizer’s competitive position against Procter & Gamble (PG - Analyst Report).

Estimate Revision

The Zacks Consensus Estimate for fiscal 2013 increased 1.5% (10 cents) to $6.93 per share over the last 90 days. For fiscal 2014, the Zacks Consensus Estimate increased 0.5% (4 cents) to $7.63 per share over the same period.

Other Stocks to Consider

Another  consumer goods stock  worth considering is Newell Rubbermaid (NWL - Analyst Report) with a Zacks Rank #2 (Buy).

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