Lincoln Electric (NASDAQ:LECO – Get Free Report) issued its quarterly earnings results on Thursday. The industrial products company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.15 by $0.08, Briefing.com reports. Lincoln Electric had a net margin of 13.23% and a return on equity of 43.81%. The firm had revenue of $981.20 million for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $2.13 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis.
Lincoln Electric Stock Performance
NASDAQ LECO traded up $2.01 during trading on Friday, reaching $229.94. The company’s stock had a trading volume of 482,687 shares, compared to its average volume of 237,714. The company has a current ratio of 2.24, a quick ratio of 1.50 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 1.58 and a beta of 1.20. Lincoln Electric has a 12 month low of $156.80 and a 12 month high of $261.13. The firm has a 50 day moving average price of $248.63 and a 200 day moving average price of $219.44.
Lincoln Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, June 28th. Lincoln Electric’s dividend payout ratio is currently 30.15%.
Insider Buying and Selling at Lincoln Electric
Analysts Set New Price Targets
Several brokerages have commented on LECO. Robert W. Baird cut their price target on shares of Lincoln Electric from $257.00 to $252.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley started coverage on shares of Lincoln Electric in a research note on Monday, January 8th. They set an “underweight” rating and a $178.00 price objective on the stock. Stifel Nicolaus lowered their price objective on shares of Lincoln Electric from $241.00 to $238.00 and set a “hold” rating on the stock in a research note on Friday. KeyCorp boosted their price objective on shares of Lincoln Electric from $232.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, Jefferies Financial Group boosted their price objective on shares of Lincoln Electric from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Lincoln Electric has an average rating of “Hold” and a consensus price target of $216.63.
Read Our Latest Stock Report on Lincoln Electric
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.
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