Gabelli Weighs in on Lincoln Electric Holdings, Inc.’s FY2019 Earnings (NASDAQ:LECO)

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Equities researchers at Gabelli upped their FY2019 earnings per share (EPS) estimates for shares of Lincoln Electric in a report released on Friday, October 26th, according to Zacks Investment Research. Gabelli analyst M. Trusz now expects that the industrial products company will earn $5.45 per share for the year, up from their prior estimate of $5.35. Gabelli has a “Buy” rating and a $111.00 price target on the stock. Gabelli also issued estimates for Lincoln Electric’s FY2020 earnings at $6.15 EPS, FY2021 earnings at $6.80 EPS and FY2022 earnings at $7.45 EPS.

Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday, August 25th. Barclays set a $90.00 price objective on shares of Lincoln Electric and gave the stock an “equal weight” rating in a research report on Friday, October 26th. KeyCorp decreased their price objective on shares of Lincoln Electric from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, October 26th. Oppenheimer reaffirmed a “buy” rating and set a $95.00 price objective on shares of Lincoln Electric in a research report on Thursday, October 25th. Finally, ValuEngine raised shares of Lincoln Electric from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $102.44.

Shares of Lincoln Electric stock traded up $0.83 during trading on Monday, hitting $82.56. 176,072 shares of the stock were exchanged, compared to its average volume of 552,160. The stock has a market cap of $5.27 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27. Lincoln Electric has a 12-month low of $75.07 and a 12-month high of $101.34. The company has a current ratio of 2.58, a quick ratio of 1.88 and a debt-to-equity ratio of 0.75.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, October 25th. The industrial products company reported $1.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.21. The company had revenue of $737.10 million during the quarter, compared to analysts’ expectations of $763.42 million. Lincoln Electric had a net margin of 7.40% and a return on equity of 31.77%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC acquired a new position in Lincoln Electric in the first quarter valued at $399,000. Guggenheim Capital LLC increased its stake in Lincoln Electric by 4.0% in the first quarter. Guggenheim Capital LLC now owns 24,481 shares of the industrial products company’s stock valued at $2,202,000 after purchasing an additional 935 shares during the period. Legal & General Group Plc increased its stake in Lincoln Electric by 202.5% in the first quarter. Legal & General Group Plc now owns 225,238 shares of the industrial products company’s stock valued at $20,260,000 after purchasing an additional 150,782 shares during the period. Royal Bank of Canada increased its stake in Lincoln Electric by 22.5% in the first quarter. Royal Bank of Canada now owns 85,667 shares of the industrial products company’s stock valued at $7,707,000 after purchasing an additional 15,737 shares during the period. Finally, Xact Kapitalforvaltning AB increased its stake in Lincoln Electric by 21.1% in the first quarter. Xact Kapitalforvaltning AB now owns 6,316 shares of the industrial products company’s stock valued at $568,000 after purchasing an additional 1,100 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Kathryn Jo Lincoln sold 3,140 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $94.10, for a total value of $295,474.00. Following the completion of the sale, the director now directly owns 44,194 shares of the company’s stock, valued at $4,158,655.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.27% of the stock is owned by insiders.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be given a $0.47 dividend. The ex-dividend date is Friday, December 28th. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.39. This represents a $1.88 dividend on an annualized basis and a yield of 2.28%. Lincoln Electric’s payout ratio is 41.16%.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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