ESAB Co. (ESAB) to Issue Quarterly Dividend of $0.08 on October 11th

ESAB Co. (NYSE:ESAB) declared a quarterly dividend on Thursday, September 12th, Zacks reports. Shareholders of record on Friday, September 27th will be given a dividend of 0.08 per share on Friday, October 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th.

ESAB has a dividend payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ESAB to earn $5.30 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 6.0%.

ESAB Price Performance

NYSE:ESAB traded up $1.17 during midday trading on Friday, hitting $98.86. The company had a trading volume of 165,930 shares, compared to its average volume of 249,454. The company has a market capitalization of $5.98 billion, a PE ratio of 25.88, a P/E/G ratio of 1.68 and a beta of 1.42. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.62. ESAB has a 52-week low of $61.43 and a 52-week high of $114.77. The stock’s fifty day moving average price is $98.28 and its 200-day moving average price is $101.26.

ESAB (NYSE:ESAB) last released its earnings results on Friday, August 2nd. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. The company had revenue of $707.10 million for the quarter, compared to analyst estimates of $686.75 million. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 EPS. As a group, research analysts expect that ESAB will post 4.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ESAB shares. Stifel Nicolaus dropped their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Oppenheimer began coverage on ESAB in a research report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on ESAB from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Bank of America lifted their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Evercore ISI decreased their price objective on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $108.57.

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.