Lincoln Electric (NASDAQ:LECO) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Lincoln Electric (NASDAQ:LECO) issued its earnings results on Wednesday. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.04, Briefing.com reports. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Lincoln Electric had a net margin of 12.48% and a return on equity of 42.24%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $2.44 earnings per share.

Lincoln Electric Price Performance

Shares of Lincoln Electric stock traded down $2.95 during trading hours on Friday, hitting $195.84. The company’s stock had a trading volume of 344,124 shares, compared to its average volume of 390,286. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.06. Lincoln Electric has a 12-month low of $164.00 and a 12-month high of $261.13. The business has a 50 day moving average price of $193.78 and a two-hundred day moving average price of $222.39. The company has a market cap of $11.10 billion, a PE ratio of 20.79, a PEG ratio of 1.47 and a beta of 1.15.

Lincoln Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, September 30th. This represents a $2.84 dividend on an annualized basis and a yield of 1.45%. Lincoln Electric’s dividend payout ratio is presently 30.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. KeyCorp dropped their price objective on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Robert W. Baird upped their target price on shares of Lincoln Electric from $213.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday. Stifel Nicolaus lifted their price target on shares of Lincoln Electric from $209.00 to $213.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Oppenheimer reissued a “market perform” rating on shares of Lincoln Electric in a research report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $219.43.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.