ESAB (NYSE:ESAB) Updates FY 2024 Earnings Guidance

ESAB (NYSE:ESAB) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 4.800-4.950 for the period, compared to the consensus EPS estimate of 4.850. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ESAB shares. JPMorgan Chase & Co. increased their price target on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $138.00 price objective (up from $122.00) on shares of ESAB in a report on Wednesday. Evercore ISI reduced their target price on 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 reduced their target price on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Loop Capital raised their price objective on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

ESAB Stock Down 1.9 %

ESAB stock traded down $2.39 during mid-day trading on Thursday, reaching $123.04. The stock had a trading volume of 402,387 shares, compared to its average volume of 250,442. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.21 and a current ratio of 1.86. ESAB has a fifty-two week low of $62.57 and a fifty-two week high of $127.33. The stock’s 50-day simple moving average is $105.22 and its 200-day simple moving average is $101.91. The firm has a market capitalization of $7.44 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.42.

ESAB (NYSE:ESAB) last announced its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.13. The company had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. ESAB’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, sell-side analysts forecast that ESAB will post 4.83 EPS for the current fiscal year.

ESAB Dividend Announcement

The firm also recently declared 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 was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. ESAB’s dividend payout ratio (DPR) is currently 7.49%.

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.