UL Solutions Inc. (NYSE:ULS) to Post Q3 2024 Earnings of $0.40 Per Share, William Blair Forecasts

UL Solutions Inc. (NYSE:ULS) – Equities research analysts at William Blair boosted their Q3 2024 earnings per share (EPS) estimates for UL Solutions in a research report issued to clients and investors on Monday, August 5th. William Blair analyst A. Nicholas now forecasts that the company will post earnings per share of $0.40 for the quarter, up from their previous forecast of $0.38. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for UL Solutions’ current full-year earnings is $1.48 per share. William Blair also issued estimates for UL Solutions’ Q4 2024 earnings at $0.42 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.42 EPS and Q4 2025 earnings at $0.43 EPS.

Several other analysts also recently weighed in on the company. Jefferies Financial Group initiated coverage on UL Solutions in a research note on Tuesday, May 7th. They set a “buy” rating and a $42.00 target price for the company. UBS Group began coverage on UL Solutions in a research note on Tuesday, May 7th. They issued a “neutral” rating and a $38.00 price target for the company. Wells Fargo & Company lifted their price target on UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price target on UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their price target on UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.90.

UL Solutions Stock Performance

Shares of UL Solutions stock opened at $49.74 on Wednesday. The firm’s 50-day simple moving average is $43.16. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29. UL Solutions has a 1-year low of $33.15 and a 1-year high of $52.83.

UL Solutions (NYSE:ULS) last announced its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.06. The business had revenue of $730.00 million for the quarter, compared to analyst estimates of $718.73 million. The business’s revenue was up 6.0% compared to the same quarter last year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd were issued a $0.125 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.50 dividend on an annualized basis and a yield of 1.01%.

Hedge Funds Weigh In On UL Solutions

A number of large investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. bought a new stake in shares of UL Solutions during the second quarter valued at approximately $84,000. TFC Financial Management Inc. bought a new stake in shares of UL Solutions during the second quarter valued at approximately $88,000. Bellecapital International Ltd. bought a new stake in shares of UL Solutions during the second quarter valued at approximately $208,000. Victory Capital Management Inc. bought a new stake in shares of UL Solutions during the second quarter valued at approximately $208,000. Finally, Levin Capital Strategies L.P. bought a new stake in shares of UL Solutions during the second quarter valued at approximately $295,000.

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.