ESAB (NYSE:ESAB) Releases FY 2024 Earnings Guidance

by · The Markets Daily

ESAB (NYSE:ESAB – Get Free Report) 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.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Oppenheimer increased their price objective on ESAB from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Evercore ISI dropped their price objective on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. raised their price target on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Bank of America raised their price target 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 decreased their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $116.17.

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ESAB Price Performance

Shares of ESAB stock opened at $111.46 on Tuesday. ESAB has a twelve month low of $62.46 and a twelve month high of $114.77. The stock has a market capitalization of $6.74 billion, a P/E ratio of 27.18, 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. The business’s fifty day moving average price is $103.97 and its 200 day moving average price is $101.62.

ESAB (NYSE:ESAB – Get Free Report) last issued its earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The firm had revenue of $707.10 million for the quarter, compared to analysts’ expectations of $686.75 million. During the same quarter last year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, 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 paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s dividend payout ratio is presently 7.80%.

ESAB Company Profile

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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.

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