Energizer Holdings, Inc. (NYSE:ENR) reported better-than-expected fourth-quarter results.
Energizer said fourth-quarter FY23 sales increased by 2.6% year-on-year to $811.10 million, beating the consensus of $794.58 million. The company reported an adjusted EPS of $1.20, beating the analyst consensus of $1.13.
Energizer Holdings said it sees FY24 adjusted EPS of $3.10-$3.30 versus the $3.36 estimate. The company projects organic revenue to be flat to down low-single digits.
Energizer fell 7.1% to trade at $33.54 on Wednesday.
These analysts made changes to their price targets on Energizer following earnings announcement.
- RBC Capital cut the price target on Energizer from $40 to $38. RBC Capital analyst Nik Modi downgraded the stock from Outperform to Sector Perform.
- Truist Securities increased the price target on Energizer from $35 to $40. Truist Securities analyst Bill Chappell maintained a Hold rating.
- Morgan Stanley analyst Dara Mohsenian downgraded Energizer from Equal-Weight to Underweight and announced a $33 price target..
- JP Morgan analyst Andrea Teixeira downgraded the stock from Neutral to Underweight and announced a $33 price target.
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