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EnerSys (ENS) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, EnerSys (ENS - Free Report) closed at $111.39, marking a -1.08% move from the previous day. This change lagged the S&P 500's daily loss of 0.68%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq lost 3.19%.
Heading into today, shares of the maker of industrial batteries had gained 8.59% over the past month, outpacing the Industrial Products sector's gain of 6.12% and the S&P 500's gain of 3.58% in that time.
EnerSys will be looking to display strength as it nears its next earnings release, which is expected to be August 9, 2023. The company is expected to report EPS of $1.64, up 42.61% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $952.97 million, up 6% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.09 per share and revenue of $3.92 billion, which would represent changes of +32.77% and +5.69%, respectively, from the prior year.
Any recent changes to analyst estimates for EnerSys should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.7% higher. EnerSys is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note EnerSys's current valuation metrics, including its Forward P/E ratio of 15.88. For comparison, its industry has an average Forward P/E of 23.83, which means EnerSys is trading at a discount to the group.
It is also worth noting that ENS currently has a PEG ratio of 1.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Manufacturing - Electronics was holding an average PEG ratio of 2.19 at yesterday's closing price.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ENS in the coming trading sessions, be sure to utilize Zacks.com.
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EnerSys (ENS) Dips More Than Broader Markets: What You Should Know
In the latest trading session, EnerSys (ENS - Free Report) closed at $111.39, marking a -1.08% move from the previous day. This change lagged the S&P 500's daily loss of 0.68%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq lost 3.19%.
Heading into today, shares of the maker of industrial batteries had gained 8.59% over the past month, outpacing the Industrial Products sector's gain of 6.12% and the S&P 500's gain of 3.58% in that time.
EnerSys will be looking to display strength as it nears its next earnings release, which is expected to be August 9, 2023. The company is expected to report EPS of $1.64, up 42.61% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $952.97 million, up 6% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.09 per share and revenue of $3.92 billion, which would represent changes of +32.77% and +5.69%, respectively, from the prior year.
Any recent changes to analyst estimates for EnerSys should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.7% higher. EnerSys is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note EnerSys's current valuation metrics, including its Forward P/E ratio of 15.88. For comparison, its industry has an average Forward P/E of 23.83, which means EnerSys is trading at a discount to the group.
It is also worth noting that ENS currently has a PEG ratio of 1.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Manufacturing - Electronics was holding an average PEG ratio of 2.19 at yesterday's closing price.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ENS in the coming trading sessions, be sure to utilize Zacks.com.