Needham & Company Reiterates a 'Buy' on EnerSys (ENS); Upside Preannouncement
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Price: $179.71 -0.76%
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 4 | Down: 8 | New: 31
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 31
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Needham & Company reiterates a 'Buy' on EnerSys (NYSE: ENS) price target of $37.00.
Analyst, Michael Lew, said, "EnerSys preannounced fiscal 4Q12 financial results that beat our forecast. Revenue growth of 8% y/y to $592.8 million and operating EPS of $0.98 (excluding $0.04 of charges related to restructuring and acquisitions) exceeded our $577.0 million of sales and $0.86 EPS forecast. We believe the upside was broad based, with growth across each of the end-markets (Motive and Reserve) led by Asia and the Americas regions. In addition, the preliminary outlook for fiscal 1Q13 is for operating EPS in the range of $0.88-0.92. This is also higher than our current estimate, with the company likely benefitting from lower lead prices."
Needham raises FY12 EPS estimate from $2.92 to $3.04.
For an analyst ratings summary and ratings history on EnerSys click here. For more ratings news on EnerSys click here.
Shares of EnerSys closed at $32.07 yesterday.
Analyst, Michael Lew, said, "EnerSys preannounced fiscal 4Q12 financial results that beat our forecast. Revenue growth of 8% y/y to $592.8 million and operating EPS of $0.98 (excluding $0.04 of charges related to restructuring and acquisitions) exceeded our $577.0 million of sales and $0.86 EPS forecast. We believe the upside was broad based, with growth across each of the end-markets (Motive and Reserve) led by Asia and the Americas regions. In addition, the preliminary outlook for fiscal 1Q13 is for operating EPS in the range of $0.88-0.92. This is also higher than our current estimate, with the company likely benefitting from lower lead prices."
Needham raises FY12 EPS estimate from $2.92 to $3.04.
For an analyst ratings summary and ratings history on EnerSys click here. For more ratings news on EnerSys click here.
Shares of EnerSys closed at $32.07 yesterday.
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