ESAB (NYSE:ESAB) Releases FY 2024 Earnings Guidance

ESAB (NYSE:ESAB) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 4.750-4.950 for the period, compared to the consensus estimate of 4.810. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. ESAB also updated its FY33 guidance to $4.75-$4.95 EPS.

Wall Street Analysts Forecast Growth

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

ESAB Trading Up 1.4 %

NYSE:ESAB opened at $104.94 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 0.98. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 2.11 and a beta of 1.55. ESAB has a one year low of $57.53 and a one year high of $114.77. The business has a fifty day moving average price of $105.27 and a 200-day moving average price of $89.92.

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

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. ESAB’s payout ratio is presently 6.28%.

Insiders Place Their Bets

In other ESAB news, Director Christopher M. Hix sold 7,465 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the transaction, the director now owns 33,863 shares of the company’s stock, valued at approximately $3,361,918.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total transaction of $85,172.00. Following the sale, the director now directly owns 6,779 shares of the company’s stock, valued at $674,510.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $99.28, for a total value of $741,125.20. Following the completion of the sale, the director now directly owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,833 shares of company stock worth $1,074,985. Corporate insiders own 7.00% of the company’s stock.

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.