Why Energizer Holdings Stock Just Dropped 11%
Shares of battery manufacturer Energizer Holdings (NYSE: ENR) short-circuited in early Thursday trading, dropping 11.1% through 10:40 a.m. EST. The sell-off came in response to adjusted fourth-quarter earnings that came in below consensus this morning.
Analysts had forecast Energizer would earn $0.81 per share, pro forma, on sales of $747.2 million. In fact, Energizer beat that revenue forecast, collecting $763 million, but its earnings came up short at $0.59 per share, pro forma.
Image source: Getty Images.
Source Fool.com
