ESAB (NYSE:ESAB) Announces Earnings Results

ESAB (NYSE:ESAB) announced its quarterly earnings data on Friday. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.01, Zacks reports. ESAB had a return on equity of 15.93% and a net margin of 8.70%.The business had revenue of $720.99 million during the quarter, compared to the consensus estimate of $687.80 million. During the same period in the previous year, the company posted $1.28 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis.

ESAB Price Performance

ESAB stock traded down $1.15 on Friday, reaching $129.45. 107,380 shares of the company’s stock were exchanged, compared to its average volume of 449,382. The stock has a fifty day moving average of $120.64 and a 200-day moving average of $116.35. The firm has a market cap of $7.86 billion, a PE ratio of 32.63, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. ESAB has a twelve month low of $100.17 and a twelve month high of $137.42.

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were given a $0.10 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. ESAB’s dividend payout ratio (DPR) is presently 10.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ESAB. Stifel Nicolaus raised their price objective on shares of ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Roth Mkm reaffirmed a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Wall Street Zen lowered ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Oppenheimer upped their price target on ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 2nd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.63.

Institutional Investors Weigh In On ESAB

A number of institutional investors and hedge funds have recently bought and sold shares of ESAB. Thrivent Financial for Lutherans raised its holdings in shares of ESAB by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock worth $1,617,000 after acquiring an additional 95 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in ESAB by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock valued at $2,191,000 after purchasing an additional 107 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in ESAB by 5.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after purchasing an additional 149 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of ESAB by 3.1% during the 2nd quarter. Lazard Asset Management LLC now owns 5,386 shares of the company’s stock worth $649,000 after purchasing an additional 162 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

About ESAB

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.