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

UL Solutions (NYSE:ULS) announced its quarterly earnings data on Tuesday. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.10, Briefing.com reports. The firm had revenue of $731.00 million during the quarter, compared to the consensus estimate of $709.41 million. UL Solutions’s quarterly revenue was up 8.1% compared to the same quarter last year.

UL Solutions Price Performance

NYSE ULS traded down $0.38 during trading hours on Thursday, hitting $50.02. 490,615 shares of the company’s stock traded hands, compared to its average volume of 749,037. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average is $51.15 and its 200-day moving average is $45.72. UL Solutions has a 52-week low of $33.15 and a 52-week high of $59.23.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, August 30th.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ULS. Baird R W lowered shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. UBS Group boosted their target price on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company increased their price target on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup initiated coverage on UL Solutions in a research note on Monday, October 7th. They set a “buy” rating and a $60.00 price target on the stock. Finally, The Goldman Sachs Group lifted their target price on shares of UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.00.

Insider Transactions at UL Solutions

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link.

About UL Solutions

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.