ESAB Co. (NYSE:ESAB) Plans Quarterly Dividend of $0.08

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

ESAB has a dividend payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 1.2 %

Shares of ESAB stock traded up $1.17 on Friday, reaching $98.86. 165,930 shares of the company were exchanged, compared to its average volume of 249,454. ESAB has a 1-year low of $61.43 and a 1-year high of $114.77. The company has a market cap of $5.98 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 1.68 and a beta of 1.42. 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 stock’s 50 day moving average price is $98.28 and its 200-day moving average price is $101.26.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $707.10 million during the quarter, compared to the consensus estimate of $686.75 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. As a group, equities analysts forecast that ESAB will post 4.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Evercore ISI decreased their target price on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. 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 research note on Monday, August 5th. Bank of America boosted their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Oppenheimer initiated coverage on ESAB in a research note on Thursday, June 20th. They set an “outperform” rating and a $115.00 target price for the company. Finally, Stifel Nicolaus reduced their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.57.

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.