Canaccord Genuity lowered its price objective for Energizer (NYSE:ENR) to $19.00 from $20.00 on Monday and reiterated a Hold rating on the stock. The new target sits at the bottom of the analyst group range, which spans $19 to $30, while Energizer shares were trading at $23.40 and carry a price-to-earnings ratio of 7.75.
The firm’s cut follows Energizer’s first-quarter financial report, released Sunday, where the company posted results that outperformed consensus on key metrics. Sales and adjusted EBITDA each came in roughly 9% above analyst expectations for the quarter. According to InvestingPro data cited by analysts, Energizer produced $624.8 million in EBITDA over the past twelve months and generated nearly $3.0 billion in total revenue.
Even with the top-line and profitability beats, the company disclosed a 4.5% decline in volume year-over-year. Management attributed the volume drop to softer consumer demand across both of its operating segments in the U.S. and to elevated storm activity in the comparable period last year. Those negative drivers were partially offset by distribution gains within the Batteries & Lights segment and by growth in e-commerce channels.
Energizer preserved its full-year guidance despite issuing second-quarter guidance that was well below consensus estimates. Company management said it expects results to improve sequentially through 2026, pointing to improving category trends, advancement of its global brands, and a substantially completed supply-chain realignment as the underpinnings of that outlook. Energizer projects earnings per share of $3.44 for fiscal 2026 and offers a dividend yielding 5.13%.
Canaccord Genuity flagged the firm’s skepticism about the company’s back-half-weighted plan. The analyst team noted that forecasts which rely heavily on later-year improvement are "difficult to execute in any sector, but toughest in consumer," and trimmed their estimates accordingly, which led to the reduced price target.
InvestingPro’s valuation assessment suggests Energizer may be trading below its Fair Value, but the firm also noted that five analysts have recently lowered their earnings forecasts. Those downward revisions sit alongside the mixed tenor of the results - upside to quarterly EPS and revenue, yet volume pressures and conservative near-term guidance.
In detail, Energizer reported quarterly earnings per share of $0.31, beating the $0.26 forecast, and posted revenue of $731.7 million versus an expected $715.73 million. Despite those topline and EPS beats, the share price experienced a modest decline in pre-market trading, signaling investor caution following the release.
Market participants will be watching how management executes on its plan to restore volume growth and complete the supply-chain realignment, and whether the company can deliver the sequential improvements it forecasts for the remainder of the fiscal year. For now, the combination of strong near-term results and a cautious forward view by an influential analyst has left Energizer’s valuation and near-term trajectory a focal point for investors.