Lincoln Electric (LECO) Rating Increased to Outperform at Oppenheimer
Oppenheimer upgraded shares of Lincoln Electric (NASDAQ:LECO) from a market perform rating to an outperform rating in a research report sent to investors on Thursday. They currently have $105.00 price target on the industrial products company’s stock. Oppenheimer also issued estimates for Lincoln Electric’s FY2018 earnings at $4.30 EPS and FY2019 earnings at $4.75 EPS.
Other equities research analysts have also issued research reports about the company. B. Riley reissued a buy rating on shares of Lincoln Electric in a research note on Wednesday, November 1st. Barclays began coverage on Lincoln Electric in a research note on Tuesday, December 12th. They issued an equal weight rating and a $90.00 target price for the company. FBR & Co reissued a buy rating and issued a $115.00 target price (up previously from $105.00) on shares of Lincoln Electric in a research note on Friday, October 27th. UBS Group raised Lincoln Electric from a market perform rating to an outperform rating in a research note on Thursday. Finally, Stifel Nicolaus lowered their target price on Lincoln Electric from $100.00 to $92.00 and set a hold rating for the company in a research note on Monday, October 30th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Lincoln Electric has a consensus rating of Hold and an average price target of $99.13.
Lincoln Electric (NASDAQ LECO) traded up $1.37 during midday trading on Thursday, hitting $96.36. The stock had a trading volume of 571,896 shares, compared to its average volume of 450,760. Lincoln Electric has a 12 month low of $75.86 and a 12 month high of $99.59. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.83 and a current ratio of 2.55. The company has a market cap of $6,250.00, a price-to-earnings ratio of 23.22, a PEG ratio of 1.92 and a beta of 1.08.
Lincoln Electric (NASDAQ:LECO) last released its earnings results on Friday, October 27th. The industrial products company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). Lincoln Electric had a net margin of 11.34% and a return on equity of 28.97%. 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 firm posted $0.89 EPS. The company’s revenue was up 17.9% on a year-over-year basis. sell-side analysts anticipate that Lincoln Electric will post 3.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a dividend of $0.39 per share. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.56 dividend on an annualized basis and a yield of 1.62%. Lincoln Electric’s dividend payout ratio is presently 37.59%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its position in Lincoln Electric by 584.5% during the 3rd quarter. Prudential Financial Inc. now owns 691,029 shares of the industrial products company’s stock valued at $63,353,000 after purchasing an additional 590,070 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Lincoln Electric by 95.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 46,256 shares of the industrial products company’s stock valued at $4,241,000 after purchasing an additional 22,546 shares during the last quarter. California Public Employees Retirement System raised its position in Lincoln Electric by 8.4% during the 3rd quarter. California Public Employees Retirement System now owns 146,726 shares of the industrial products company’s stock valued at $13,452,000 after purchasing an additional 11,426 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Lincoln Electric by 731.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 20,542 shares of the industrial products company’s stock valued at $1,883,000 after purchasing an additional 18,072 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Lincoln Electric during the 3rd quarter valued at approximately $7,875,000. 63.64% of the stock is owned by institutional investors and hedge funds.
Lincoln Electric 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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