ESAB (NYSE:ESAB) Releases Earnings Results

ESAB (NYSE:ESAB) released its quarterly earnings data on Tuesday. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13, Briefing.com reports. The business had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. ESAB’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 earnings per share. ESAB updated its FY 2024 guidance to 4.800-4.950 EPS.

ESAB Trading Down 1.9 %

Shares of ESAB opened at $123.06 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.21 and a current ratio of 1.92. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 2.16 and a beta of 1.42. The stock has a fifty day moving average price of $105.22 and a two-hundred day moving average price of $101.91. ESAB has a 52-week low of $62.57 and a 52-week high of $127.33.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

Insider Activity

In other news, CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total transaction of $630,500.00. Following the transaction, the chief financial officer now directly owns 11,433 shares in the company, valued at approximately $1,429,125. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total transaction of $630,500.00. Following the transaction, the chief financial officer now owns 11,433 shares of the company’s stock, valued at $1,429,125. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the transaction, the chief executive officer now owns 53,902 shares in the company, valued at approximately $6,627,789.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ESAB. Evercore ISI lowered their price target on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Oppenheimer restated an “outperform” rating and set a $138.00 price target (up previously from $122.00) on shares of ESAB in a research note on Wednesday. Bank of America upped their price objective on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus cut their target price on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Loop Capital boosted their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, ESAB presently has an average rating of “Moderate Buy” and an average price target of $119.00.

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.