UL Solutions Inc. (NYSE:ULS) to Post Q3 2024 Earnings of $0.40 Per Share, William Blair Forecasts

UL Solutions Inc. (NYSE:ULS) – Analysts at William Blair increased their Q3 2024 earnings per share estimates for UL Solutions in a research note issued to investors on Monday, August 5th. William Blair analyst A. Nicholas now anticipates that the company will post earnings of $0.40 per share for the quarter, up from their previous estimate of $0.38. William Blair has a “Outperform” rating on the stock. The consensus estimate for UL Solutions’ current full-year earnings is $1.48 per share. William Blair also issued estimates for UL Solutions’ Q4 2024 earnings at $0.42 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.42 EPS and Q4 2025 earnings at $0.43 EPS.

ULS has been the subject of a number of other research reports. Jefferies Financial Group initiated coverage on UL Solutions in a report on Tuesday, May 7th. They set a “buy” rating and a $42.00 target price for the company. Stifel Nicolaus initiated coverage on UL Solutions in a report on Tuesday, May 7th. They set a “buy” rating and a $40.00 target price for the company. Bank of America initiated coverage on UL Solutions in a report on Tuesday, May 7th. They set a “buy” rating and a $42.00 target price for the company. Robert W. Baird upped their target price on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Citigroup initiated coverage on UL Solutions in a report on Tuesday, May 7th. They set a “buy” rating and a $41.00 target price for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, UL Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.90.

UL Solutions Trading Down 0.3 %

Shares of ULS stock opened at $49.74 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.00. UL Solutions has a fifty-two week low of $33.15 and a fifty-two week high of $52.83. The company has a 50 day moving average of $43.16.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.06. The company had revenue of $730.00 million during the quarter, compared to the consensus estimate of $718.73 million. The company’s quarterly revenue was up 6.0% compared to the same quarter last year.

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd were issued a $0.125 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.50 dividend on an annualized basis and a yield of 1.01%.

Hedge Funds Weigh In On UL Solutions

A number of institutional investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new position in UL Solutions in the second quarter worth $84,000. TFC Financial Management Inc. purchased a new stake in shares of UL Solutions in the second quarter worth $88,000. Bellecapital International Ltd. purchased a new stake in shares of UL Solutions in the second quarter worth $208,000. Victory Capital Management Inc. purchased a new stake in shares of UL Solutions in the second quarter worth $208,000. Finally, Levin Capital Strategies L.P. purchased a new stake in shares of UL Solutions in the second quarter worth $295,000.

About UL Solutions

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.