ESAB (NYSE:ESAB) Posts Earnings Results, Beats Expectations By $0.13 EPS

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

ESAB Price Performance

ESAB stock opened at $125.54 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. The business has a 50 day simple moving average of $104.72 and a 200-day simple moving average of $101.75. ESAB has a twelve month low of $62.57 and a twelve month high of $127.33. The company has a market capitalization of $7.59 billion, a P/E ratio of 29.40, a PEG ratio of 1.93 and a beta of 1.42.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Friday, September 27th. ESAB’s payout ratio is currently 7.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ESAB shares. Stifel Nicolaus dropped their price target on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Bank of America increased their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Loop Capital increased their price target on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $138.00 price target (up from $122.00) on shares of ESAB in a research note on Wednesday. Finally, Evercore ISI decreased their price objective on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.00.

About ESAB

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.