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

ESAB (NYSE:ESAB) issued its quarterly earnings data on Friday. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.05, Briefing.com reports. The company had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. 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 %

Shares of NYSE ESAB traded down $2.25 during mid-day trading on Friday, hitting $95.99. The company had a trading volume of 575,152 shares, compared to its average volume of 241,761. The company has a market capitalization of $5.80 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 1.01. ESAB has a 1-year low of $61.43 and a 1-year high of $114.77. The business’s 50-day simple moving average is $96.88 and its 200 day simple moving average is $99.36.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.08 dividend. This is a boost from ESAB’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, June 28th. ESAB’s dividend payout ratio (DPR) is presently 8.38%.

Analyst Ratings Changes

ESAB has been the subject of several analyst reports. Oppenheimer began coverage on ESAB in a research report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price objective for the company. Stifel Nicolaus decreased their price target on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.14.

About ESAB

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.