Zacks: Brokerages Expect Lincoln Electric Holdings, Inc. (LECO) Will Announce Quarterly Sales of $698.34 Million
Analysts predict that Lincoln Electric Holdings, Inc. (NASDAQ:LECO) will announce $698.34 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Lincoln Electric Holdings’ earnings. The highest sales estimate is $702.00 million and the lowest is $692.60 million. Lincoln Electric Holdings posted sales of $563.83 million in the same quarter last year, which would indicate a positive year over year growth rate of 23.9%. The firm is scheduled to announce its next earnings report on Tuesday, February 13th.
According to Zacks, analysts expect that Lincoln Electric Holdings will report full year sales of $698.34 million for the current fiscal year, with estimates ranging from $2.57 billion to $2.58 billion. For the next financial year, analysts expect that the firm will report sales of $2.94 billion per share, with estimates ranging from $2.86 billion to $3.01 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Lincoln Electric Holdings.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). Lincoln Electric Holdings had a return on equity of 28.97% and a net margin of 11.34%. The company had revenue of $669.50 million during the quarter, compared to the consensus estimate of $658.48 million. During the same period last year, the business earned $0.89 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year.
LECO has been the subject of several research analyst reports. FBR & Co restated a “buy” rating and set a $115.00 price target (up previously from $105.00) on shares of Lincoln Electric Holdings in a report on Friday, October 27th. Robert W. Baird set a $91.00 price target on Lincoln Electric Holdings and gave the company a “hold” rating in a report on Thursday, August 24th. KeyCorp reiterated a “hold” rating on shares of Lincoln Electric Holdings in a report on Friday, August 25th. Zacks Investment Research cut Lincoln Electric Holdings from a “buy” rating to a “sell” rating in a report on Monday, October 9th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Lincoln Electric Holdings in a report on Monday, October 30th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $96.43.
Shares of Lincoln Electric Holdings (NASDAQ:LECO) traded up $0.21 on Monday, reaching $86.71. The company had a trading volume of 327,500 shares, compared to its average volume of 375,726. The company has a market cap of $5,701.68, a P/E ratio of 24.15, a PEG ratio of 2.20 and a beta of 1.09. Lincoln Electric Holdings has a 52 week low of $71.62 and a 52 week high of $99.59. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.55 and a quick ratio of 1.83.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.39 per share. This is a positive change from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, December 28th. Lincoln Electric Holdings’s dividend payout ratio is currently 33.65%.
In related news, VP Michele R. Kuhrt sold 3,080 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $88.55, for a total transaction of $272,734.00. Following the transaction, the vice president now directly owns 14,449 shares of the company’s stock, valued at approximately $1,279,458.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.27% of the company’s stock.
A number of institutional investors have recently bought and sold shares of LECO. BlueMountain Capital Management LLC purchased a new stake in Lincoln Electric Holdings during the 2nd quarter valued at about $179,000. Global X Management Co. LLC grew its stake in Lincoln Electric Holdings by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 1,441 shares during the last quarter. Puzo Michael J purchased a new stake in shares of Lincoln Electric Holdings in the second quarter worth about $203,000. CIBC Asset Management Inc purchased a new stake in shares of Lincoln Electric Holdings in the second quarter worth about $204,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lincoln Electric Holdings in the second quarter worth about $219,000. Institutional investors and hedge funds own 62.32% of the company’s stock.
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Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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