UL Solutions (NYSE:ULS) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

UL Solutions (NYSE:ULS) posted its earnings results on Tuesday. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.37 by $0.12, Briefing.com reports. The business had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. UL Solutions’s revenue for the quarter was up 8.1% compared to the same quarter last year.

UL Solutions Stock Performance

UL Solutions stock traded down $1.14 on Wednesday, hitting $50.40. The company’s stock had a trading volume of 2,048,319 shares, compared to its average volume of 746,876. The company has a fifty day moving average price of $51.24 and a 200-day moving average price of $45.69. UL Solutions has a one year low of $33.15 and a one year high of $59.23. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00.

UL Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 30th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 0.99%.

Insider Activity

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

A number of brokerages recently weighed in on ULS. UBS Group raised their price objective on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on shares of UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company raised their target price on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup initiated coverage on shares of UL Solutions in a research report on Monday, October 7th. They set a “buy” rating and a $60.00 target price for the company. Finally, Robert W. Baird raised their price target on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

UL Solutions Company Profile

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.