EnerSys (ENS) Sees a More Significant Dip Than Broader Market: Some Facts to Know
EnerSys (ENS) ended the recent trading session at $89.82, demonstrating a -1.56% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.85%. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.96%.
Shares of the maker of industrial batteries witnessed a loss of 6.49% over the previous month, trailing the performance of the Industrial Products sector with its loss of 4.87% and the S&P 500's loss of 3.02%.
Market participants will be closely following the financial results of EnerSys in its upcoming release. The company plans to announce its earnings on November 8, 2023. The company is expected to report EPS of $1.81, up 63.06% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $911.9 million, up 1.39% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.78 per share and a revenue of $3.76 billion, representing changes of +45.69% and +1.45%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for EnerSys. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, EnerSys holds a Zacks Rank of #3 (Hold).
Digging into valuation, EnerSys currently has a Forward P/E ratio of 11.73. This represents a discount compared to its industry's average Forward P/E of 19.54.
We can additionally observe that ENS currently boasts a PEG ratio of 0.84. 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. ENS's industry had an average PEG ratio of 1.99 as of yesterday's close.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Enersys (ENS) : Free Stock Analysis Report
