Seaport Global Securities Comments on Lincoln Electric Holdings Inc.’s Q3 2016 Earnings (LECO)
Lincoln Electric Holdings Inc. (NASDAQ:LECO) – Equities researchers at Seaport Global Securities lowered their Q3 2016 EPS estimates for Lincoln Electric Holdings in a research note issued to investors on Thursday. Seaport Global Securities analyst W. Liptak now forecasts that the firm will post earnings per share of $0.83 for the quarter, down from their previous estimate of $0.87. Seaport Global Securities also issued estimates for Lincoln Electric Holdings’ Q4 2016 earnings at $0.81 EPS, FY2016 earnings at $3.23 EPS, Q1 2017 earnings at $0.82 EPS and Q3 2017 earnings at $0.97 EPS.
Lincoln Electric Holdings (NASDAQ:LECO) last issued 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 business earned $592.40 million during the quarter, compared to analysts’ expectations of $589.08 million. Lincoln Electric Holdings had a return on equity of 25.46% and a net margin of 3.11%. Lincoln Electric Holdings’s revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share.
Several other research analysts also recently commented on the company. Deutsche Bank AG assumed coverage on Lincoln Electric Holdings in a report on Tuesday, September 6th. They issued a “hold” rating and a $70.00 target price on the stock. Wellington Shields cut shares of Lincoln Electric Holdings to a “hold” rating in a research report on Wednesday, August 24th. TheStreet upgraded shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th. Zacks Investment Research upgraded shares of Lincoln Electric Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Barclays PLC restated an “equal weight” rating and issued a $55.00 price objective on shares of Lincoln Electric Holdings in a research report on Wednesday, July 27th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.13.
Shares of Lincoln Electric Holdings (NASDAQ:LECO) opened at 62.62 on Friday. The firm has a market cap of $4.21 billion, a PE ratio of 61.21 and a beta of 1.18. The stock has a 50 day moving average price of $63.05 and a 200 day moving average price of $60.99. Lincoln Electric Holdings has a 12 month low of $45.54 and a 12 month high of $65.33.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, September 28th. Lincoln Electric Holdings’s payout ratio is 119.63%.
Hedge funds have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. boosted its stake in Lincoln Electric Holdings by 1.1% in the second quarter. Johnson Financial Group Inc. now owns 2,250 shares of the company’s stock worth $133,000 after buying an additional 25 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. purchased a new stake in Lincoln Electric Holdings during the second quarter worth approximately $208,000. Quadrature Capital Ltd purchased a new stake in Lincoln Electric Holdings during the first quarter worth approximately $217,000. LS Investment Advisors LLC boosted its stake in Lincoln Electric Holdings by 68.6% in the second quarter. LS Investment Advisors LLC now owns 3,877 shares of the company’s stock worth $229,000 after buying an additional 1,578 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Lincoln Electric Holdings by 195.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,992 shares of the company’s stock worth $236,000 after buying an additional 2,639 shares in the last quarter. Institutional investors and hedge funds own 65.28% of the company’s stock.
Lincoln Electric Holdings Company Profile
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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