ESAB (NYSE:ESAB) Updates FY 2024 Earnings Guidance

ESAB (NYSE:ESAB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.750-4.950 for the period, compared to the consensus estimate of 4.810. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. ESAB also updated its FY33 guidance to $4.75-$4.95 EPS.

Analyst Upgrades and Downgrades

ESAB has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on ESAB from $106.00 to $114.00 and gave the company a buy rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of ESAB from a neutral rating to an overweight rating and lifted their price objective for the company from $111.00 to $125.00 in a research report on Monday, March 18th. Finally, Evercore ISI upped their target price on shares of ESAB from $93.00 to $100.00 and gave the stock an in-line rating in a research report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $93.75.

ESAB Stock Up 1.4 %

NYSE ESAB opened at $104.94 on Friday. The stock has a 50 day moving average price of $105.27 and a 200-day moving average price of $89.92. ESAB has a one year low of $57.53 and a one year high of $114.77. The company has a market capitalization of $6.34 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.11 and a beta of 1.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.98 and a current ratio of 1.65.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Wednesday, May 1st. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.11 by $0.09. The business had revenue of $690.00 million during the quarter, compared to analyst estimates of $653.93 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. ESAB’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. As a group, equities analysts predict that ESAB will post 4.82 EPS for the current fiscal year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. ESAB’s dividend payout ratio (DPR) is presently 6.28%.

Insider Activity

In related news, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the completion of the sale, the director now directly owns 33,863 shares in the company, valued at $3,361,918.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the transaction, the director now directly owns 33,863 shares in the company, valued at approximately $3,361,918.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Didier P. Teirlinck sold 2,512 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $99.00, for a total transaction of $248,688.00. Following the completion of the sale, the director now directly owns 33,863 shares in the company, valued at $3,352,437. The disclosure for this sale can be found here. Insiders sold 10,833 shares of company stock valued at $1,074,985 in the last ninety days. Insiders own 7.00% of the company’s stock.

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.