UL Solutions (NYSE:ULS) Announces Earnings Results

UL Solutions (NYSE:ULS) issued its earnings results on Wednesday. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06, Briefing.com reports. The firm had revenue of $730.00 million during the quarter, compared to analyst estimates of $718.73 million. The firm’s revenue was up 6.0% on a year-over-year basis.

UL Solutions Stock Performance

Shares of NYSE ULS traded up $0.97 during trading on Thursday, hitting $51.50. The stock had a trading volume of 334,437 shares, compared to its average volume of 685,299. UL Solutions has a 12 month low of $33.15 and a 12 month high of $52.83. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.27 and a quick ratio of 1.27. The company’s fifty day moving average price is $42.23.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.125 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.50 annualized dividend and a yield of 0.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup assumed coverage on UL Solutions in a report on Tuesday, May 7th. They issued a “buy” rating and a $41.00 target price for the company. Stifel Nicolaus initiated coverage on UL Solutions in a report on Tuesday, May 7th. They issued a “buy” rating and a $40.00 target price for the company. UBS Group initiated coverage on UL Solutions in a research note on Tuesday, May 7th. They issued a “neutral” rating and a $38.00 price target for the company. The Goldman Sachs Group initiated coverage on UL Solutions in a research note on Tuesday, May 7th. They issued a “neutral” rating and a $39.00 price target for the company. Finally, Robert W. Baird increased their price target on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UL Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $43.30.

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.