ESAB (NYSE:ESAB) Issues FY33 Earnings Guidance

ESAB (NYSE:ESAB) updated its FY33 earnings guidance on Wednesday. The company provided EPS guidance of $4.75-$4.95 for the period. ESAB also updated its FY 2024 guidance to 4.750-4.950 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ESAB shares. JPMorgan Chase & Co. raised shares of ESAB from a neutral rating to an overweight rating and upped their target price for the stock from $111.00 to $125.00 in a report on Monday, March 18th. Stifel Nicolaus lifted their price objective on ESAB from $106.00 to $114.00 and gave the company a buy rating in a research report on Friday, March 1st. Finally, Evercore ISI increased their target price on ESAB from $93.00 to $100.00 and gave the stock an in-line rating in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, ESAB currently has a consensus rating of Moderate Buy and an average price target of $93.75.

ESAB Trading Up 1.4 %

NYSE:ESAB traded up $1.44 during trading hours on Friday, hitting $104.94. 280,486 shares of the stock were exchanged, compared to its average volume of 228,637. The company’s 50 day moving average is $105.27 and its two-hundred day moving average is $89.92. The company has a market capitalization of $6.34 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 2.11 and a beta of 1.55. ESAB has a twelve month low of $57.53 and a twelve month high of $114.77. The company has a quick ratio of 0.98, a current ratio of 1.65 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. The business had revenue of $690.00 million for the quarter, compared to analyst estimates of $653.93 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 up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, sell-side analysts anticipate that ESAB will post 4.82 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 27th. ESAB’s dividend payout ratio (DPR) is 6.28%.

Insider Buying and Selling at ESAB

In other news, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the completion of the sale, the director now directly owns 33,863 shares of the company’s stock, valued at approximately $3,361,918.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Rajiv Vinnakota sold 856 shares of ESAB stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the sale, the director now owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at approximately $3,361,918.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,833 shares of company stock valued at $1,074,985. 7.00% of the stock is currently owned by insiders.

ESAB Company Profile

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.