UL Solutions (NYSE:ULS) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

UL Solutions (NYSE:ULS) issued its quarterly earnings results on Tuesday. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12, Briefing.com reports. The business had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. UL Solutions’s revenue for the quarter was up 8.1% compared to the same quarter last year.

UL Solutions Price Performance

Shares of UL Solutions stock traded down $1.14 during midday trading on Wednesday, hitting $50.40. The company’s stock had a trading volume of 2,048,319 shares, compared to its average volume of 746,876. UL Solutions has a 1-year low of $33.15 and a 1-year high of $59.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a 50-day simple moving average of $51.24 and a 200-day simple moving average of $45.69.

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 $0.125 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.99%.

Analyst Ratings Changes

ULS has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group upped their target price on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup began coverage on UL Solutions in a research report on Monday, October 7th. They set a “buy” rating and a $60.00 price target on the stock. The Goldman Sachs Group upped their price objective on UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Insider Buying and Selling

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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.