UL Solutions (NYSE:ULS) Issues Earnings Results

UL Solutions (NYSE:ULS) issued its quarterly earnings data on Tuesday. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.39 by $0.10, Briefing.com reports. The firm had revenue of $731.00 million for the quarter, compared to the consensus estimate of $709.41 million. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year.

UL Solutions Stock Performance

ULS stock traded down $0.38 during mid-day trading on Thursday, hitting $50.02. The company had a trading volume of 490,615 shares, compared to its average volume of 749,037. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.00. UL Solutions has a 12-month low of $33.15 and a 12-month high of $59.23. The company has a 50-day moving average price of $51.15 and a 200 day moving average price of $45.72.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, August 30th.

Insider Activity at UL Solutions

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ULS shares. Citigroup started coverage on UL Solutions in a research report on Monday, October 7th. They issued a “buy” rating and a $60.00 price target on the stock. Robert W. Baird lifted their price target on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday. Baird R W cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. The Goldman Sachs Group lifted their target price on UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

About UL Solutions

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.