ESAB (NYSE:ESAB) Releases FY33 Earnings Guidance

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

ESAB Trading Up 1.4 %

Shares of ESAB traded up $1.44 on Friday, hitting $104.94. 280,486 shares of the stock traded hands, compared to its average volume of 228,637. The firm has a market capitalization of $6.34 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.11 and a beta of 1.55. The company has a quick ratio of 0.98, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. ESAB has a 1 year low of $57.53 and a 1 year high of $114.77. The stock’s 50 day moving average is $105.27 and its two-hundred day moving average is $89.92.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The firm had revenue of $690.00 million for 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%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $1.04 EPS. As a group, sell-side analysts predict that ESAB will post 4.82 earnings per share for the current year.

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB’s dividend payout ratio (DPR) is currently 6.28%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the firm’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 completion of the sale, the director now owns 6,779 shares in the company, valued at approximately $674,510.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Didier P. Teirlinck sold 2,512 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $99.00, for a total transaction of $248,688.00. Following the transaction, the director now directly owns 33,863 shares in the company, valued at approximately $3,352,437. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,833 shares of company stock worth $1,074,985. 7.00% of the stock is currently owned by corporate insiders.

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.