ESAB (NYSE:ESAB) Issues FY33 Earnings Guidance

ESAB (NYSE:ESAB) issued an update on its FY33 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.75-$4.95 for the period. ESAB also updated its FY 2024 guidance to 4.750-4.950 EPS.

ESAB Stock Performance

ESAB traded up $1.44 during midday trading on Friday, hitting $104.94. 280,486 shares of the company traded hands, compared to its average volume of 228,637. The company’s 50-day moving average is $105.27 and its 200 day moving average is $89.92. ESAB has a 52 week low of $57.53 and a 52 week high of $114.77. The firm has a market capitalization of $6.34 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 2.11 and a beta of 1.55. The company has a quick ratio of 0.98, a current ratio of 1.65 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB) last posted its earnings results on Wednesday, May 1st. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $690.00 million during the quarter, compared to the consensus estimate of $653.93 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. On average, research analysts expect that ESAB will post 4.82 EPS for the current year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.24 annualized dividend and a yield of 0.23%. ESAB’s dividend payout ratio (DPR) is 6.28%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at ESAB

In related news, Director Didier P. Teirlinck sold 2,512 shares of ESAB stock in a transaction dated Friday, March 1st. The shares were 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 of the company’s stock, valued at approximately $3,352,437. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Rajiv Vinnakota sold 856 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total value of $85,172.00. Following the transaction, the director now owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Didier P. Teirlinck sold 2,512 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $99.00, for a total transaction of $248,688.00. Following the completion of the sale, the director now directly owns 33,863 shares of the company’s stock, valued at $3,352,437. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,833 shares of company stock worth $1,074,985. 7.00% of the stock is currently owned by company insiders.

About ESAB

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.