ESAB (NYSE:ESAB) Releases Earnings Results, Beats Estimates By $0.05 EPS

ESAB (NYSE:ESAB) released its earnings results on Friday. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05, Briefing.com reports. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The company had revenue of $707.10 million for the quarter, compared to analysts’ expectations of $686.75 million. During the same quarter in the previous year, the company earned $1.21 EPS. ESAB’s revenue for the quarter was down 1.8% on a year-over-year basis. ESAB updated its FY33 guidance to $4.75-4.95 EPS and its FY 2024 guidance to 4.750-4.950 EPS.

ESAB Stock Down 2.3 %

ESAB stock traded down $2.25 during trading on Friday, reaching $95.99. The stock had a trading volume of 575,152 shares, compared to its average volume of 241,761. The stock has a market cap of $5.80 billion, a PE ratio of 25.15, a P/E/G ratio of 1.71 and a beta of 1.42. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. ESAB has a 52-week low of $61.43 and a 52-week high of $114.77. The business has a 50 day moving average price of $96.88 and a 200 day moving average price of $99.36.

ESAB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.08 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. This is an increase from ESAB’s previous quarterly dividend of $0.06. ESAB’s payout ratio is currently 8.38%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ESAB. Stifel Nicolaus lowered their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Oppenheimer started coverage on shares of ESAB in a report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ESAB presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.14.

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.