Why the Market Dipped But EnerSys (ENS) Gained Today
In the latest trading session, EnerSys (ENS) closed at $87.29, marking a +1.38% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.18%. Meanwhile, the Dow experienced a drop of 0.76%, and the technology-dominated Nasdaq saw a decrease of 1.76%.
Shares of the maker of industrial batteries witnessed a loss of 8.8% over the previous month, trailing the performance of the Industrial Products sector with its loss of 6.04% and the S&P 500's loss of 3.35%.
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's earnings per share (EPS) are projected to be $1.81, reflecting a 63.06% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $911.9 million, up 1.39% from the year-ago period.
ENS's full-year Zacks Consensus Estimates are calling for earnings of $7.76 per share and revenue of $3.75 billion. These results would represent year-over-year changes of +45.32% and +1.04%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for EnerSys. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.3% lower. Right now, EnerSys possesses a Zacks Rank of #4 (Sell).
In the context of valuation, EnerSys is at present trading with a Forward P/E ratio of 11.1. This represents a discount compared to its industry's average Forward P/E of 18.57.
Investors should also note that ENS has a PEG ratio of 0.79 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ENS's industry had an average PEG ratio of 1.93 as of yesterday's close.
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 160, placing it within the bottom 37% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Enersys (ENS) : Free Stock Analysis Report
