ESAB (NYSE:ESAB) Announces Earnings Results

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

ESAB Price Performance

Shares of NYSE ESAB traded down $0.15 during mid-day trading on Friday, reaching $130.45. 119,298 shares of the company were exchanged, compared to its average volume of 450,351. The stock has a market capitalization of $7.92 billion, a PE ratio of 32.85, a PEG 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 52 week low of $100.17 and a 52 week high of $137.42. The company’s 50 day moving average price is $120.64 and its 200 day moving average price is $116.35.

ESAB Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in shares of ESAB during the 4th quarter valued at $33,000. Northwestern Mutual Wealth Management Co. boosted its position in ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after buying an additional 174 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of ESAB by 259.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $43,000 after buying an additional 275 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of ESAB by 3,023.1% in the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after buying an additional 393 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of ESAB by 185.3% in the 4th quarter. UMB Bank n.a. now owns 642 shares of the company’s stock valued at $72,000 after acquiring an additional 417 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ESAB. Stifel Nicolaus lifted their target price on ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded shares of ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. dropped their price objective on ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. Roth Mkm restated a “buy” rating and issued a $146.00 target price (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Finally, Oppenheimer lifted their price objective on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.63.

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.