ESAB Corporation (NYSE:ESAB) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of ESAB Corporation (NYSE:ESAB) have received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $139.50.

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus set a $141.00 price objective on shares of ESAB in a research note on Friday, May 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 target price (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Weiss Ratings lowered shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. lowered their price objective on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, April 10th. Finally, Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st.

Institutional Investors Weigh In On ESAB

Institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas increased its position in shares of ESAB by 33.9% during the 4th quarter. Teacher Retirement System of Texas now owns 177,428 shares of the company’s stock valued at $19,822,000 after purchasing an additional 44,877 shares during the last quarter. Confluence Investment Management LLC purchased a new position in shares of ESAB during the 4th quarter worth $998,000. Defender Capital LLC. bought a new stake in shares of ESAB during the 4th quarter valued at $3,977,000. TimesSquare Capital Management LLC raised its holdings in ESAB by 37.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 959,101 shares of the company’s stock worth $107,151,000 after purchasing an additional 262,850 shares during the period. Finally, Bessemer Group Inc. raised its holdings in ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock worth $117,730,000 after purchasing an additional 1,038,475 shares during the period. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $89.77 on Friday. The stock has a market capitalization of $5.47 billion, a PE ratio of 26.56, a PEG ratio of 1.69 and a beta of 1.17. The business’s 50 day simple moving average is $92.84 and its 200 day simple moving average is $105.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.97 and a quick ratio of 2.26. ESAB has a one year low of $82.18 and a one year high of $137.42.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $745.60 million for the quarter, compared to the consensus estimate of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, research analysts forecast that ESAB will post 5.79 earnings per share for the current year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. This is a boost from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, July 2nd. ESAB’s dividend payout ratio (DPR) is currently 14.20%.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.