Lincoln Electric Holdings Inc. (LECO) Shares Gap Down to $63.57
Lincoln Electric Holdings Inc. (NASDAQ:LECO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $63.36, but opened at $63.57. Lincoln Electric Holdings shares last traded at $64.22, with a volume of 202,900 shares changing hands.
Several equities analysts have weighed in on LECO shares. Wellington Shields raised Lincoln Electric Holdings from a “hold” rating to a “gradually accumulate” rating in a research note 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 lowered their price target 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 lowered their price target 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.57.
The stock has a market capitalization of $4.32 billion and a price-to-earnings ratio of 62.78. The stock has a 50-day moving average price of $63.14 and a 200-day moving average price of $60.27.
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 Thomson Reuters’ consensus estimate of $0.83. The company had revenue of $592.40 million for the quarter, compared to analyst estimates of $589.08 million. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. Analysts anticipate that Lincoln Electric Holdings Inc. will post $3.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend 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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