ESAB (NYSE:ESAB) Releases FY33 Earnings Guidance

ESAB (NYSE:ESAB) updated its FY33 earnings guidance on Friday. The company provided earnings per share guidance of $4.75-4.95 for the period, compared to the consensus earnings per share estimate of $4.93. ESAB also updated its FY 2024 guidance to 4.750-4.950 EPS.

ESAB Stock Performance

Shares of ESAB stock traded down $2.25 during trading on Friday, hitting $95.99. 575,152 shares of the company’s stock traded hands, compared to its average volume of 241,761. The stock has a market capitalization of $5.80 billion, a P/E ratio of 25.15, a PEG ratio of 1.71 and a beta of 1.42. ESAB has a 1 year low of $61.43 and a 1 year high of $114.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 1.01. The business has a 50-day simple moving average of $96.88 and a 200-day simple moving average of $99.36.

ESAB (NYSE:ESAB) last announced its earnings results on Friday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The business had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. During the same quarter in the previous year, the business earned $1.21 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, analysts forecast that ESAB will post 4.9 EPS for the current year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, June 28th. This is a positive change from ESAB’s previous quarterly dividend of $0.06. ESAB’s dividend payout ratio is currently 8.38%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ESAB. Stifel Nicolaus cut their target price on ESAB from $130.00 to $120.00 and set a buy rating for the company in a research note on Thursday, July 18th. Oppenheimer initiated coverage on ESAB in a research report on Thursday, June 20th. They set an outperform rating and a $115.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $103.14.

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.