ESAB (NYSE:ESAB) Announces Quarterly Earnings Results

by · The Cerbat Gem

ESAB (NYSE:ESAB – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $1.25 EPS for the quarter, beating the consensus estimate 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 business had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. During the same period in the previous year, the business posted $1.08 EPS. The business’s quarterly revenue 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 current ratio of 1.86 and a quick ratio of 1.21. The firm 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 firm’s 50-day moving average is $104.72 and its two-hundred day moving average is $101.75. ESAB has a 1 year low of $62.57 and a 1 year high of $127.33.

ESAB Announces Dividend

The firm also recently declared 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 of this dividend was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Loop Capital lifted their target price on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday. Stifel Nicolaus lowered their target price 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. JPMorgan Chase & Co. lifted their target price on shares of ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Evercore ISI lowered their price target on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Bank of America boosted their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.00.

Read Our Latest Report on ESAB

ESAB Company Profile

(Get Free Report)

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.

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