Lincoln Electric (NASDAQ:LECO) Issues Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Lincoln Electric (NASDAQ:LECO) released its quarterly earnings results on Tuesday. The industrial products company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.17, Zacks reports. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.

Lincoln Electric Stock Performance

Shares of Lincoln Electric stock opened at $258.65 on Tuesday. The company has a 50 day moving average of $267.97 and a 200-day moving average of $265.31. Lincoln Electric has a 1-year low of $216.22 and a 1-year high of $310.00. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The company has a market cap of $14.10 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.53 and a beta of 1.21.

Lincoln Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a $0.87 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $3.48 annualized dividend and a yield of 1.3%. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.79. Lincoln Electric’s payout ratio is 31.57%.

Analyst Ratings Changes

A number of brokerages have commented on LECO. Stifel Nicolaus set a $271.00 price objective on Lincoln Electric in a report on Monday, October 19th. Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $257.00 to $283.00 in a report on Monday, August 10th. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. UBS Group assumed coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They issued a “buy” rating and a $340.00 price target on the stock. Finally, Wall Street Zen cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Lincoln Electric has an average rating of “Moderate Buy” and a consensus target price of $306.78.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.