ESAB (NYSE:ESAB) Issues Earnings Results, Beats Estimates By $0.13 EPS

ESAB (NYSE:ESAB) issued its earnings results on Tuesday. The company reported $1.25 earnings per share (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 the consensus estimate of $620.50 million. During the same period last year, the business posted $1.08 EPS. ESAB’s revenue was down 1.2% on a year-over-year basis. ESAB updated its FY 2024 guidance to 4.800-4.950 EPS.

ESAB Price Performance

Shares of ESAB traded up $1.43 during mid-day trading on Wednesday, reaching $126.96. 128,803 shares of the stock traded hands, compared to its average volume of 247,729. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.42. 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 firm has a fifty day moving average price of $104.72 and a 200 day moving average price of $101.75. ESAB has a 1 year low of $62.57 and a 1 year high of $127.02.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued 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 7.49%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America lifted their price target on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI decreased their price target on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Stifel Nicolaus dropped their target price on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Oppenheimer reissued an “outperform” rating and issued a $138.00 price objective (up previously from $122.00) on shares of ESAB in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ESAB has an average rating of “Moderate Buy” and an average target price of $118.83.

ESAB Company Profile

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.