UL Solutions (NYSE:ULS) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

UL Solutions (NYSE:ULS) released its quarterly earnings data on Tuesday. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.37 by $0.12, Briefing.com reports. The company had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $709.41 million. The business’s revenue was up 8.1% on a year-over-year basis.

UL Solutions Trading Down 2.0 %

Shares of UL Solutions stock traded down $1.03 during trading hours on Wednesday, hitting $50.51. The company had a trading volume of 1,552,304 shares, compared to its average volume of 746,432. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23. The company’s 50-day moving average is $51.24 and its two-hundred day moving average is $45.69.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 0.99%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ULS shares. Wells Fargo & Company increased their price target on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group upped their target price on UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup initiated coverage on shares of UL Solutions in a research report on Monday, October 7th. They set a “buy” rating and a $60.00 price objective for the company. Baird R W cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, UBS Group increased their target price on shares of UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Insider Activity

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UL Solutions Company Profile

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.