ENS

[BigSully1]

update

[setravis]

AP
Big earnings, increased outlook lift EnerSys
Thursday June 12, 7:43 pm ET 
Shares of industrial battery maker EnerSys jump on big fiscal 4th-qtr profit, raised outlook


READING, Pa. (AP) -- Shares of industrial battery maker EnerSys Inc. surged Thursday on a surprisingly big quarterly profit plus an increase in its outlook for current quarter earnings.
Shares rose $4.78, or 15 percent, to $35.68.

 
Excluding one-time charges, the company posted adjusted earnings per share of 42 cents per share. Analysts polled by Thomson Financial expected, on average, profit of 38 cents per share. Such estimates typically exclude one-time charges.

The strong fiscal fourth-quarter results led the company to increase its earnings per share outlook for the first quarter of fiscal 2009 to a range of 45 cents to 49 cents, up from a previous projection of 40 cents to 44 cents.

Jefferies & Co. analyst Paul Clegg cited the surprisingly large profit plus increased guidance as he raised his price target to $43 from $32.

"Moderating lead costs could reveal substantially higher earnings power resulting from cost cutting, pricing power and acquisition synergies," Clegg wrote in a client note. "While lead costs and economic growth remain risks, the company's key market have continued to show robust demand."

The analyst also raised the possibility that EnerSys may be preparing for an acquisition.

"The company's recent decision to recapitalize its balance sheet, including the use of a low coupon convert suggests to us a "girding" of the balance sheet, possibly for additional M&A opportunities."

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52wk Range: 17.08 - 33.98
Volume: 4,292,607
Avg Vol (3m): 718,246
Market Cap: 1.74B
P/E (ttm): 33.76
EPS (ttm): 1.06
Div & Yield: N/A (N/A)

Technicals
Record Price High
Close Above the 13-day MA
Gap Up
Percentage Gainer
Price Gainer

Last Price Quote is:
15.25%above 13-day MA
27.29%above 50-day MA
RS Rating: 94 

Fundamentals
Earnings Expected on Jun 12

Key Data:
Market Cap (M): $1,643.93 
P/E Ratio: 29.92 
PEG Ratio: N/A 
Next Earnings: 08/06/2008
Last Analyst Rating: Neutral