UL Solutions (NYSE:ULS) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

UL Solutions (NYSE:ULS) issued its earnings results on Tuesday. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10, Briefing.com reports. The firm had revenue of $731.00 million for the quarter, compared to the consensus estimate of $709.41 million. The firm’s revenue was up 8.1% on a year-over-year basis.

UL Solutions Price Performance

Shares of UL Solutions stock opened at $50.36 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average price is $51.15 and its 200 day moving average price is $45.72. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were paid a $0.125 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 0.99%.

Analyst Ratings Changes

ULS has been the topic of a number of recent research reports. Robert W. Baird increased their price objective on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group increased their target price on UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group boosted their price target on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Baird R W downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, UL Solutions has an average rating of “Moderate Buy” and a consensus price target of $49.00.

Insider Transactions at UL Solutions

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

About UL Solutions

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.