|Over a month ago|
Energizer upgraded to Overweight on battery and auto upside at Morgan Stanley » 08:2305/1805/18/20
As previously reported,…
As previously reported, Morgan Stanley analyst Dara Mohsenian upgraded Energizer to Overweight from Equal Weight with a price target of $49, up from $41, citing upside potential in both batteries and auto care. Battery pricing trends have already improved in recent years post the acquisition of Duracell in 2016 by Berkshire Hathaway and the long-term environment should now be further strengthened by Energizer's 2019 deal for Rayovac, Mohsenian tells investors. In auto care, he sees the do-it-yourself auto care business poised to benefit from a shift away from mass transit to personal car usage post the pandemic, the analyst added.
Energizer upgraded to Overweight from Equal Weight at Morgan Stanley » 06:4205/1805/18/20
Morgan Stanley analyst…
Morgan Stanley analyst Dara Mohsenian upgraded Energizer to Overweight from Equal Weight.
Soros adds TransDigm stake, boosts Peloton position, exits Mondelez » 16:3705/1505/15/20
TDG, LM, TMUS, MDLZ, ADM, EPC, KDP, JPM, PTON, ATVI, ETFC, ALC, WMGI, LBRDK, VICI, GOOGL, ENR, NLOK, DHI
George Soros' Soros…
George Soros' Soros Fund Management disclosed in an SEC filing its holdings as of March 31, 2020. Soros' 34 new buys during the first quarter included, by size of position, TransDigm (TDG), Legg Mason (LM), and T-Mobile (TMUS). Soros exited 87 positions during the quarter, including by size of previous position, Mondelez (MDLZ), Archer-Daniels-Midland (ADM), Edgewell Personal Care (EPC), Keurig Dr Pepper (KDP), and JPMorgan Chase (JPM). Soros increased its stake in 19 holdings, including by size of previous position, Peloton Interactive (PTON), Activision Blizzard (ATVI), E*Trade (ETFC), Alcon (ALC), and Wright Medical Group (WMGI). Soros reduced its stake in 17 holdings, including by size of previous position, Liberty Broadband Class C (LBRDK), VICI Properties (VICI), Alphabet Class A (GOOGL), Energizer Holdings (ENR), and NortonLifeLock (NLOK). Soros' top holdings as of March 31, in order of size, were Liberty Broadband Class C, VICI Properties, D.R. Horton (DHI), Peloton, and Activision Blizzard.
Energizer not providing guidance due to COVID-19 » 06:5605/0705/07/20
"Energizer has been…
"Energizer has been able to operate effectively thus far in the environment relating to the COVID-19 pandemic and continues to move forward with its integration efforts for the acquired battery and auto care businesses, with expected synergy realization remaining unchanged. However, due to the uncertainties in this rapidly changing environment, including the possible impact of the pandemic on the global economy and consumer demand, Energizer withdrew its previously disclosed full year outlook, as indicated in our Current Report on Form 8-K, filed with the SEC on April 15."
Energizer reports Q2 adj. EPS 37c, consensus 36c » 06:5505/0705/07/20
Reports Q2 revenue $587M,…
Reports Q2 revenue $587M, consensus $580.98M. "Energizer's strong second-quarter performance was the result of the remarkable effort by our colleagues to serve the needs of our customers and consumers impacted by COVID-19," said Alan Hoskins, CEO. "Energizer's top priority is to ensure the safety and well-being of our colleagues concurrent with maintaining business continuity with our customers as the effects of the pandemic continue in the months ahead. We are well-positioned to provide our critical branded products to consumers during this crisis while also continuing the efforts underway to achieve our long-term strategic objective of becoming the leading global household products company in batteries, lights, and auto care."
Energizer price target lowered to $44 from $59 at Deutsche Bank » 07:2804/1604/16/20
Deutsche Bank analyst…
Deutsche Bank analyst Faiza Alwy lowered the firm's price target on Energizer to $44 from $59 and keeps a Buy rating on the shares after the company withdrew its fiscal 2020 guidance due to uncertainties related to COVID-19.
Energizer withdraws FY20 guidance due to COVID-19 impact » 07:5304/1504/15/20
On a preliminary basis,…
On a preliminary basis, Energizer expects fiscal second quarter net sales to be approximately $587M, with organic sales growth of approximately 2.7%, and adjusted EBITDA of $120M-$125M. The company has been able to operate effectively thus far in the environment relating to the COVID-19 pandemic and continues to move forward with its integration efforts for the acquired battery and auto care businesses, with expected synergy realization remaining unchanged. However, due to the uncertainties in this rapidly changing environment, including the possible impact of the pandemic on the global economy and consumer demand, Energizer is withdrawing its previously disclosed full year outlook.
Energizer sees Q2 revenue approximately $587M, consensus $585.1M » 07:5104/1504/15/20
Sees Q2 adjusted EBITDA…
Sees Q2 adjusted EBITDA in the range of $120M-$125M, compared to $101M in prior year. These results reflect strong battery category growth in the month of March driven in part by strong consumer demand associated with the global COVID-19 outbreak.
Energizer withdraws FY20 guidance 07:5004/1504/15/20
|Over a quarter ago|
Energizer downgraded to Buy from Conviction Buy at Goldman Sachs » 05:2904/0204/02/20
Goldman Sachs analyst…
Goldman Sachs analyst Jason English removed Energizer from the firm's Americas Conviction List but keeps a Buy rating on the shares with a price target of $43, down from $59. The stock's relative weakness reflects the fact that integrating the company's acquired battery and auto care businesses has proved more challenging than management initially anticipated, English tells investors in a research note. Further, investors prefer companies with clean balance sheets and low leverage amid the COVID-19 economic slowdown, adds the analyst. Nonetheless, English continues to see "meaningful" EBITDA growth for Energizer at discounted valuation.