UL Solutions (NYSE:ULS) Posts Earnings Results, Beats Expectations By $0.12 EPS

UL Solutions (NYSE:ULS) issued its earnings results on Tuesday. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12, Briefing.com reports. The firm had revenue of $731.00 million during the quarter, compared to analyst estimates of $709.41 million. The company’s quarterly revenue was up 8.1% compared to the same quarter last year.

UL Solutions Price Performance

Shares of ULS stock traded down $1.03 on Wednesday, reaching $50.51. 1,552,304 shares of the company’s stock traded hands, compared to its average volume of 746,432. UL Solutions has a 12-month low of $33.15 and a 12-month high of $59.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29. The business’s 50 day moving average price is $51.24 and its two-hundred day moving average price is $45.69.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were issued a $0.125 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.99%.

Insider Buying and Selling

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ULS shares. Baird R W lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. The Goldman Sachs Group boosted their price objective on shares of UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup initiated coverage on UL Solutions in a report on Monday, October 7th. They set a “buy” rating and a $60.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, UBS Group upped their target price on shares of UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, UL Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

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.