UL Solutions (NYSE:ULS) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

UL Solutions (NYSE:ULS) announced its earnings results on Tuesday. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.10, Briefing.com reports. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The firm had revenue of $731.00 million for the quarter, compared to the consensus estimate of $709.41 million. The firm’s revenue was up 8.1% on a year-over-year basis.

UL Solutions Trading Up 1.7 %

Shares of UL Solutions stock traded up $0.83 during trading hours on Friday, hitting $50.88. The company had a trading volume of 36,116 shares, compared to its average volume of 748,182. The company’s 50-day moving average is $51.05 and its two-hundred day moving average is $45.75. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.85.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, August 30th.

Insider Activity

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Baird R W downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird increased their price objective on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup began coverage on shares of UL Solutions in a research report on Monday, October 7th. They issued a “buy” rating and a $60.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of UL Solutions from $45.00 to $51.00 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.00.

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.