ESAB (NYSE:ESAB) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

ESAB (NYSE:ESAB) posted its earnings results on Friday. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.34 by $0.01, Zacks reports. The business had revenue of $720.99 million during the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a return on equity of 15.93% and a net margin of 8.70%.The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 earnings per share.

ESAB Trading Down 1.6%

ESAB stock opened at $128.52 on Friday. The company has a market capitalization of $7.80 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 2.38 and a beta of 1.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.24 and a current ratio of 1.99. ESAB has a one year low of $100.17 and a one year high of $137.42. The company’s 50 day moving average price is $120.88 and its two-hundred day moving average price is $116.23.

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, December 31st. ESAB’s dividend payout ratio (DPR) is presently 10.81%.

Hedge Funds Weigh In On ESAB

Large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new stake in ESAB during the fourth quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. boosted its holdings in ESAB by 109.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after acquiring an additional 174 shares during the period. Smartleaf Asset Management LLC boosted its holdings in ESAB by 259.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares during the period. Global Retirement Partners LLC grew its position in ESAB by 3,023.1% during the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after acquiring an additional 393 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in ESAB by 185.3% in the 4th quarter. UMB Bank n.a. now owns 642 shares of the company’s stock worth $72,000 after purchasing an additional 417 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Roth Mkm reiterated a “buy” rating and set a $146.00 price target (down previously from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. lowered their target price on shares of ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. Oppenheimer lifted their target price on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Stifel Nicolaus increased their price target on shares of ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, ESAB currently has an average rating of “Moderate Buy” and an average target price of $140.63.

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.