ESAB (ESAB) Set to Announce Earnings on Wednesday

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

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

ESAB Stock Up 2.9 %

Shares of ESAB stock opened at $108.25 on Wednesday. The stock’s 50 day simple moving average is $102.92 and its 200 day simple moving average is $87.93. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.98 and a current ratio of 1.61. ESAB has a twelve month low of $55.37 and a twelve month high of $114.77. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 2.16 and a beta of 1.54.

ESAB Dividend Announcement

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

Insider Transactions at ESAB

In other news, Director Rajiv Vinnakota sold 856 shares of ESAB stock in a transaction that occurred 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 sale, the director now owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Rajiv Vinnakota sold 856 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the sale, the director now owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Didier P. Teirlinck sold 2,512 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $99.00, for a total value of $248,688.00. Following the completion of the sale, the director now directly owns 33,863 shares in the company, valued at approximately $3,352,437. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,833 shares of company stock valued at $1,074,985. 7.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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