ESAB (NYSE:ESAB) Releases Earnings Results, Beats Expectations By $0.13 EPS

ESAB (NYSE:ESAB) released its earnings results on Tuesday. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.13, Briefing.com reports. The business had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. ESAB’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. ESAB updated its FY 2024 guidance to 4.800-4.950 EPS.

ESAB Price Performance

ESAB stock opened at $125.54 on Thursday. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 1.93 and a beta of 1.42. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. ESAB has a 12 month low of $62.57 and a 12 month high of $127.33. The stock’s 50 day moving average is $104.72 and its 200-day moving average is $101.75.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.32 annualized dividend and a yield of 0.25%. ESAB’s dividend payout ratio is currently 7.49%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Loop Capital increased their price target on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. Stifel Nicolaus lowered their price objective on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Oppenheimer reiterated an “outperform” rating and issued a $138.00 target price (up from $122.00) on shares of ESAB in a research note on Wednesday. Finally, Evercore ISI reduced their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

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.