ESAB (ESAB) Scheduled to Post Earnings on Wednesday

ESAB (NYSE:ESAB) is set to release its earnings data before the market opens on Wednesday, May 1st. Analysts expect ESAB to post earnings of $1.09 per share for the quarter. ESAB has set its FY 2024 guidance at 4.650-4.850 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Thursday, February 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. ESAB had a net margin of 7.40% and a return on equity of 17.57%. The company had revenue of $689.40 million during the quarter, compared to the consensus estimate of $644.51 million. During the same period in the prior year, the firm earned $1.05 earnings per share. ESAB’s revenue was up 3.8% on a year-over-year basis. On average, analysts expect ESAB to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

ESAB Price Performance

ESAB stock opened at $107.85 on Tuesday. ESAB has a 1 year low of $56.69 and a 1 year high of $114.77. The company has a market cap of $6.52 billion, a P/E ratio of 32.10, a PEG ratio of 2.20 and a beta of 1.54. The firm has a 50-day moving average of $104.47 and a 200 day moving average of $89.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 0.98.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Wednesday, March 27th. ESAB’s dividend payout ratio (DPR) is presently 7.14%.

Insider Activity

In other news, Director Rajiv Vinnakota sold 856 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total transaction of $85,172.00. Following the sale, the director now owns 6,779 shares in the company, valued at $674,510.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Rajiv Vinnakota sold 856 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total transaction of $85,172.00. Following the sale, the director now owns 6,779 shares in the company, valued at $674,510.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher M. Hix sold 7,465 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following 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 have sold a total of 10,833 shares of company stock worth $1,074,985 over the last 90 days. 7.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

ESAB has been the topic of a number of recent research reports. Evercore ISI upped their price objective on shares of ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded shares of ESAB from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $111.00 to $125.00 in a report on Monday, March 18th. Finally, Stifel Nicolaus upped their price objective 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 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.75.

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.