UL Solutions (NYSE:ULS) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

UL Solutions (NYSE:ULS) announced its earnings results on Thursday. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.11, Zacks reports. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The company had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million.

UL Solutions Stock Down 1.8 %

Shares of ULS opened at $53.05 on Friday. UL Solutions has a 52 week low of $33.15 and a 52 week high of $59.23. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $10.62 billion and a price-to-earnings ratio of 32.74. The stock’s 50-day moving average price is $52.34 and its 200-day moving average price is $51.90.

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.98%. UL Solutions’s dividend payout ratio is presently 30.86%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group boosted their price target on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Robert W. Baird boosted their price target on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted 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, November 6th. JPMorgan Chase & Co. boosted their price target on UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group boosted their price target on UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Insider Transactions at UL Solutions

In related news, insider Gitte Schjotz sold 5,941 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $52.58, for a total value of $312,377.78. Following the completion of the transaction, the insider now owns 69,191 shares of the company’s stock, valued at approximately $3,638,062.78. This represents a 7.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

UL Solutions Company Profile

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.