Q1 2023 EPS Estimates for Lincoln Electric Holdings, Inc. Reduced by Analyst (NASDAQ:LECO)

Posted by MarketBeat News on Aug 5th, 2022

Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) – Equities researchers at Seaport Res Ptn lowered their Q1 2023 earnings per share (EPS) estimates for shares of Lincoln Electric in a report issued on Monday, August 1st. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will post earnings per share of $2.12 for the quarter, down from their previous forecast of $2.17. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Lincoln Electric’s current full-year earnings is $8.20 per share. Seaport Res Ptn also issued estimates for Lincoln Electric’s Q4 2023 earnings at $2.04 EPS and FY2023 earnings at $8.38 EPS.

A number of other research firms also recently weighed in on LECO. Morgan Stanley lifted their target price on Lincoln Electric from $126.00 to $136.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com raised Lincoln Electric from a “buy” rating to a “strong-buy” rating in a report on Monday. Stifel Nicolaus dropped their target price on Lincoln Electric from $134.00 to $122.00 in a report on Monday, July 18th. Finally, Robert W. Baird lifted their target price on Lincoln Electric from $143.00 to $150.00 in a report on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.60.

Lincoln Electric Stock Up 1.3 %

LECO opened at $141.35 on Thursday. Lincoln Electric has a fifty-two week low of $118.17 and a fifty-two week high of $148.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.91 and a current ratio of 1.62. The company has a market capitalization of $8.19 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.13 and a beta of 1.16. The stock has a fifty day moving average of $129.44 and a 200-day moving average of $130.29.

Lincoln Electric (NASDAQ:LECO – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.20. Lincoln Electric had a return on equity of 50.64% and a net margin of 10.15%. The business had revenue of $969.59 million during the quarter, compared to the consensus estimate of $936.62 million. During the same quarter last year, the firm posted $1.67 EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, September 29th. Lincoln Electric’s payout ratio is currently 36.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. State of Michigan Retirement System increased its position in shares of Lincoln Electric by 0.5% in the first quarter. State of Michigan Retirement System now owns 14,989 shares of the industrial products company’s stock worth $2,066,000 after purchasing an additional 76 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Lincoln Electric by 1.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,761 shares of the industrial products company’s stock worth $656,000 after purchasing an additional 79 shares during the period. Brinker Capital Investments LLC increased its position in shares of Lincoln Electric by 2.2% in the first quarter. Brinker Capital Investments LLC now owns 3,702 shares of the industrial products company’s stock worth $510,000 after purchasing an additional 80 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Lincoln Electric by 1.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,419 shares of the industrial products company’s stock worth $895,000 after purchasing an additional 89 shares during the period. Finally, Legacy Financial Advisors Inc. increased its position in shares of Lincoln Electric by 5.5% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,736 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 90 shares during the period. Institutional investors own 74.17% of the company’s stock.

About Lincoln Electric

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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 welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.