ESAB (NYSE:ESAB) Releases FY 2024 Earnings Guidance

ESAB (NYSE:ESAB) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 4.750-4.950 for the period, compared to the consensus EPS estimate of 4.930. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.7 billion. ESAB also updated its FY33 guidance to $4.75-4.95 EPS.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ESAB. Oppenheimer began coverage on ESAB in a research note on Thursday, June 20th. They issued an outperform rating and a $115.00 price target on the stock. Stifel Nicolaus dropped their price target on ESAB from $130.00 to $120.00 and set a buy rating on the stock in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $103.14.

ESAB Price Performance

NYSE ESAB traded down $2.25 during trading hours on Friday, hitting $95.99. The company had a trading volume of 575,152 shares, compared to its average volume of 241,761. ESAB has a 52 week low of $61.43 and a 52 week high of $114.77. The firm has a 50 day simple moving average of $96.88 and a 200 day simple moving average of $99.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.71 and a beta of 1.42.

ESAB (NYSE:ESAB) last released its earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $707.10 million during the quarter, compared to the consensus estimate of $686.75 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. ESAB’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. Equities research analysts expect that ESAB will post 4.9 earnings per share for the current year.

ESAB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.08 dividend. This is a boost from ESAB’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Friday, June 28th. ESAB’s payout ratio is 8.38%.

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.