Lincoln Electric Holdings Inc. (LECO) Shares Gap Up to $63.57
Lincoln Electric Holdings Inc. (NASDAQ:LECO)’s share price gapped up before the market opened on Friday . The stock had previously closed at $63.36, but opened at $63.57. Lincoln Electric Holdings shares last traded at $64.26, with a volume of 52,420 shares trading hands.
A number of equities analysts recently commented on LECO shares. Wellington Shields upgraded Lincoln Electric Holdings from a “hold” rating to a “gradually accumulate” rating in a report on Wednesday, August 3rd. Zacks Investment Research downgraded Lincoln Electric Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. TheStreet downgraded Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Wunderlich decreased their price objective on Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Finally, Barclays PLC decreased their price objective on Lincoln Electric Holdings from $54.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $65.57.
The company has a 50 day moving average price of $63.11 and a 200-day moving average price of $60.24. The company has a market cap of $4.32 billion and a PE ratio of 62.78.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its earnings results on Monday, July 25th. The company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. The company earned $592.40 million during the quarter, compared to analysts’ expectations of $589.08 million. During the same quarter last year, the firm posted $0.95 EPS. Lincoln Electric Holdings’s revenue for the quarter was down 10.9% compared to the same quarter last year. Equities analysts anticipate that Lincoln Electric Holdings Inc. will post $3.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, September 28th.
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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