These Analysts Revise Their Forecasts On Energizer Following Q4 Results
Portfolio Pulse from Lisa Levin
Energizer Holdings, Inc. (NYSE:ENR) reported Q4 FY23 sales of $811.10 million, surpassing the consensus of $794.58 million, and an adjusted EPS of $1.20, beating estimates of $1.13. However, the company forecasts FY24 adjusted EPS of $3.10-$3.30, below the $3.36 estimate, and expects organic revenue to be flat to down low-single digits. Following the earnings report, ENR's stock fell 7.1%. Analysts from RBC Capital, Truist Securities, Morgan Stanley, and JP Morgan revised their price targets and ratings, with downgrades from RBC Capital and Morgan Stanley, and a price target increase from Truist Securities.
November 15, 2023 | 5:44 pm
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Energizer Holdings reported strong Q4 results but provided a weaker FY24 EPS forecast. The stock experienced a significant drop following the announcement. Analysts have revised their ratings and price targets, indicating mixed sentiment.
The short-term impact on ENR's stock is likely negative due to the lower than expected FY24 EPS guidance and the immediate negative reaction of a 7.1% drop in stock price. Analyst downgrades and lowered price targets contribute to the bearish outlook, despite the strong Q4 performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100