Lincoln Electric (NASDAQ:LECO) Posts Earnings Results, Beats Expectations By $0.04 EPS

Lincoln Electric (NASDAQ:LECO) announced its quarterly earnings data on Wednesday. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.04, Briefing.com reports. Lincoln Electric had a return on equity of 42.51% and a net margin of 12.48%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business’s revenue was down 3.7% compared to the same quarter last year.

Lincoln Electric Stock Performance

NASDAQ LECO traded down $4.61 on Friday, reaching $194.18. The stock had a trading volume of 63,137 shares, compared to its average volume of 342,844. The company has a market cap of $11.05 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.52 and a beta of 1.15. Lincoln Electric has a 1-year low of $164.00 and a 1-year high of $261.13. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.24 and a quick ratio of 1.49. The firm has a fifty day moving average of $194.05 and a two-hundred day moving average of $222.67.

Lincoln Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, September 30th. Lincoln Electric’s dividend payout ratio is 30.15%.

Wall Street Analysts Forecast Growth

LECO has been the topic of a number of research analyst reports. KeyCorp dropped their price target on Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Loop Capital dropped their price target on Lincoln Electric from $285.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Stifel Nicolaus increased their price target on Lincoln Electric from $209.00 to $213.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. StockNews.com cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Robert W. Baird increased their price target on Lincoln Electric from $213.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Lincoln Electric currently has an average rating of “Hold” and an average target price of $219.43.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.