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 Upgrades and Downgrades
Several research firms recently commented on ESAB. JPMorgan Chase & Co. boosted their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Evercore ISI lowered their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. 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. Oppenheimer restated an “outperform” rating and issued a $138.00 price target (up previously from $122.00) on shares of ESAB in a research note on Wednesday. Finally, Loop Capital increased their target price on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, ESAB currently has an average rating of “Moderate Buy” and a consensus target price of $119.00.
Check Out Our Latest Stock Report on ESAB
ESAB Stock Performance
ESAB (NYSE:ESAB – Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The company had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. During the same period last year, the firm earned $1.08 EPS. ESAB’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that ESAB will post 4.83 earnings per share for the current fiscal year.
ESAB Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. ESAB’s dividend payout ratio 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.
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