ESAB (NYSE:ESAB) Announces Earnings Results, Beats Estimates By $0.13 EPS

ESAB (NYSE:ESAB) posted its quarterly earnings data on Tuesday. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13, Briefing.com reports. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The firm had revenue of $673.00 million during the quarter, compared to the consensus estimate of $620.50 million. During the same quarter in the previous year, the firm posted $1.08 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. ESAB updated its FY 2024 guidance to 4.800-4.950 EPS.

ESAB Stock Up 0.0 %

Shares of NYSE:ESAB opened at $125.54 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.21 and a current ratio of 1.86. ESAB has a 52-week low of $62.57 and a 52-week high of $127.33. The company has a market capitalization of $7.59 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.42. The company has a fifty day moving average of $104.72 and a 200-day moving average of $101.75.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. ESAB’s payout ratio is presently 7.49%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ESAB. Bank of America boosted their price target on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Evercore ISI decreased their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Oppenheimer reaffirmed an “outperform” rating and set a $138.00 price objective (up previously from $122.00) on shares of ESAB in a research report on Wednesday. Finally, Stifel Nicolaus decreased their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.00.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.