ESAB (NYSE:ESAB) Releases FY 2024 Earnings Guidance

ESAB (NYSE:ESAB) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.800-4.950 for the period, compared to the consensus estimate of 4.850. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion.

Analysts Set New Price Targets

ESAB has been the subject of a number of recent research reports. Evercore ISI lowered their price target on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Oppenheimer reiterated an “outperform” rating and issued a $138.00 price target (up from $122.00) on shares of ESAB in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Bank of America increased their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Stifel Nicolaus lowered their price target on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, ESAB presently has an average rating of “Moderate Buy” and an average price target of $118.83.

ESAB Trading Up 1.1 %

Shares of ESAB stock traded up $1.43 during trading hours on Wednesday, reaching $126.96. The stock had a trading volume of 128,803 shares, compared to its average volume of 247,729. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 1.93 and a beta of 1.42. ESAB has a 1 year low of $62.57 and a 1 year high of $127.02. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $104.72 and a two-hundred day simple moving average of $101.75.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.12 by $0.13. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The firm had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. During the same quarter last year, the firm posted $1.08 earnings per share. ESAB’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that ESAB will post 4.83 earnings per share for the current year.

ESAB Announces Dividend

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

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.