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EBF - Ennis Inc. Update: Shares Still Attractive After Weak Q2 Results
Ennis Inc.
After the publication of this article updating our opinion of Ennis Inc. (EBF), shares rose more than 4% until September 23rd when Q220 (ended 8/31/19) results were announced. On that day, shares fell more than 6% but have since recovered almost 3% to the recent price of around $19.75. At this price, shares are about 2% below where they traded when the earlier update article was published.
This price decline reflects the fact that Q2 EPS was unchanged from the previous year while TTM operating cash flow (“OCF”) and free cash flow (“FCF”)