Ennis (NYSE:EBF) Stock Price Down 8% Following Weak Earnings

Ennis, Inc. (NYSE:EBF)’s stock price traded down 8% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $19.55 and last traded at $19.9450. 108,783 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 169,655 shares. The stock had previously closed at $21.67.

The industrial products company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Ennis had a return on equity of 14.11% and a net margin of 11.01%.The firm had revenue of $96.36 million for the quarter, compared to analysts’ expectations of $95.10 million.

Ennis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Monday, April 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, April 13th. Ennis’s payout ratio is 60.24%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EBF shares. Wall Street Zen raised shares of Ennis from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings raised shares of Ennis from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Institutional Investors Weigh In On Ennis

Several large investors have recently modified their holdings of the business. Unison Advisors LLC raised its holdings in shares of Ennis by 1.4% in the 3rd quarter. Unison Advisors LLC now owns 45,087 shares of the industrial products company’s stock valued at $824,000 after purchasing an additional 603 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Ennis by 4.6% in the 2nd quarter. Cetera Investment Advisers now owns 14,417 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 633 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Ennis by 0.4% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 177,963 shares of the industrial products company’s stock valued at $3,253,000 after purchasing an additional 723 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Ennis by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 20,294 shares of the industrial products company’s stock valued at $371,000 after purchasing an additional 874 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Ennis by 56.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,456 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 890 shares in the last quarter. Institutional investors own 74.33% of the company’s stock.

Ennis Stock Performance

The firm has a market cap of $504.47 million, a P/E ratio of 12.02 and a beta of 0.31. The firm’s fifty day moving average price is $21.18 and its 200 day moving average price is $19.07.

About Ennis

Ennis, Inc (NYSE: EBF) is a provider of print and related products and services designed to meet the needs of businesses and organizations across a variety of industries. Headquartered in Dallas, Texas, Ennis offers business forms, checks, manuals, labels, promotional signage and specialty packaging. The company also delivers e-commerce and software solutions that enable customers to manage orders, customize print jobs and streamline supply-chain processes through its integrated online platform.

Ennis’s core product offerings include continuous business forms, laser checks and security-enhanced documents, as well as graphic communications materials such as brochures, catalogs and direct-mail collateral.