ESAB (NYSE:ESAB) Announces Earnings Results

ESAB (NYSE:ESAB) issued its earnings results on Tuesday. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.13, Briefing.com reports. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The company had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. During the same period in the prior year, the firm posted $1.08 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. ESAB updated its FY 2024 guidance to 4.800-4.950 EPS.

ESAB Stock Performance

ESAB traded up $1.48 during midday trading on Wednesday, reaching $127.01. The company’s stock had a trading volume of 196,898 shares, compared to its average volume of 247,949. ESAB has a twelve month low of $62.57 and a twelve month high of $127.33. The company has a fifty day simple moving average of $104.72 and a 200 day simple moving average of $101.75. The stock has a market cap of $7.68 billion, a P/E ratio of 29.70, a PEG ratio of 1.93 and a beta of 1.42. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s dividend payout ratio (DPR) is 7.49%.

Analyst Ratings Changes

Several brokerages recently commented on ESAB. Oppenheimer reissued an “outperform” rating and issued a $138.00 price target (up previously from $122.00) on shares of ESAB in a research note on Wednesday. Loop Capital increased their price target on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America raised their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus decreased their price objective on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their target price on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, ESAB has an average rating of “Moderate Buy” and a consensus target price of $119.00.

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.