ESAB (NYSE:ESAB) Announces Earnings Results

ESAB (NYSE:ESAB) announced its earnings results on Wednesday. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09, Briefing.com reports. The business had revenue of $690.00 million for the quarter, compared to analysts’ expectations of $653.93 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 EPS. ESAB updated its FY 2024 guidance to 4.750-4.950 EPS and its FY33 guidance to $4.75-$4.95 EPS.

ESAB Stock Performance

ESAB traded up $1.44 on Friday, reaching $104.94. 280,486 shares of the stock were exchanged, compared to its average volume of 228,637. The company’s 50-day moving average price is $105.27 and its 200 day moving average price is $89.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 0.98. The firm has a market capitalization of $6.34 billion, a PE ratio of 27.47, a PEG ratio of 2.11 and a beta of 1.55. ESAB has a fifty-two week low of $57.53 and a fifty-two week high of $114.77.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. ESAB’s dividend payout ratio is currently 6.28%.

Analyst Ratings Changes

ESAB has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Evercore ISI raised their price target on shares of ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. upgraded shares of ESAB from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $111.00 to $125.00 in a research note on Monday, March 18th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.75.

Insider Transactions at ESAB

In related news, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the sale, the director now owns 33,863 shares in the company, valued at $3,361,918.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Didier P. Teirlinck sold 2,512 shares of ESAB stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $99.00, for a total transaction of $248,688.00. Following the completion of the transaction, the director now directly owns 33,863 shares in the company, valued at $3,352,437. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the completion of the sale, the director now owns 33,863 shares in the company, valued at approximately $3,361,918.64. The disclosure for this sale can be found here. Insiders sold a total of 10,833 shares of company stock worth $1,074,985 over the last three months. 7.00% of the stock is currently owned by insiders.

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.