ESAB (NYSE:ESAB) Releases FY33 Earnings Guidance

ESAB (NYSE:ESAB) updated its FY33 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $4.75-4.95 for the period, compared to the consensus estimate of $4.93. ESAB also updated its FY 2024 guidance to 4.750-4.950 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ESAB. Oppenheimer began coverage on ESAB in a research report on Thursday, June 20th. They set an outperform rating and a $115.00 target price for the company. Stifel Nicolaus cut their price objective on ESAB from $130.00 to $120.00 and set a buy rating for the company in a report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, ESAB currently has an average rating of Moderate Buy and a consensus target price of $103.14.

ESAB Stock Down 2.3 %

Shares of NYSE:ESAB opened at $95.99 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. The firm has a market cap of $5.80 billion, a P/E ratio of 25.13, a P/E/G ratio of 1.71 and a beta of 1.42. ESAB has a 12 month low of $61.43 and a 12 month high of $114.77. The company’s 50-day moving average price is $96.88 and its two-hundred day moving average price is $99.36.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Friday, August 2nd. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The business had revenue of $707.10 million for the quarter, compared to analysts’ expectations of $686.75 million. During the same period in the prior year, the firm earned $1.21 earnings per share. ESAB’s revenue was down 1.8% compared to the same quarter last year. As a group, research analysts forecast that ESAB will post 4.9 EPS for the current fiscal year.

ESAB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.08 dividend. This is a boost from ESAB’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, June 28th. This represents a $0.32 annualized dividend and a yield of 0.33%. ESAB’s dividend payout ratio (DPR) is currently 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.