ESAB (ESAB) to Release Earnings on Wednesday

ESAB (NYSE:ESAB) is scheduled to be announcing its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $1.09 per share for the quarter. ESAB has set its FY 2024 guidance at 4.650-4.850 EPS.Investors interested in registering for the company’s conference call can do so using this link.

ESAB (NYSE:ESAB) last announced its earnings results on Thursday, February 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $689.40 million for the quarter, compared to analyst estimates of $644.51 million. ESAB had a net margin of 7.40% and a return on equity of 17.57%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. On average, analysts expect ESAB to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

ESAB Stock Performance

Shares of ESAB opened at $107.85 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.62. The firm has a market cap of $6.52 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 2.20 and a beta of 1.54. The company’s 50 day simple moving average is $104.47 and its 200-day simple moving average is $89.25. ESAB has a 12-month low of $56.69 and a 12-month high of $114.77.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. ESAB’s dividend payout ratio (DPR) is presently 7.14%.

Insider Activity at ESAB

In other news, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at approximately $3,361,918.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at approximately $3,361,918.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rajiv Vinnakota sold 856 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total transaction of $85,172.00. Following the transaction, the director now directly owns 6,779 shares in the company, valued at $674,510.50. The disclosure for this sale can be found here. Insiders have sold a total of 10,833 shares of company stock worth $1,074,985 in the last three months. Insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ESAB. JPMorgan Chase & Co. upgraded shares of ESAB from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $111.00 to $125.00 in a research report on Monday, March 18th. Evercore ISI raised their target price on shares of ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus lifted their price objective on shares of ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, ESAB has an average rating of “Moderate Buy” and a consensus target price of $93.75.

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.