FY2020 EPS Estimates for Lincoln Electric Holdings, Inc. Reduced by Analyst (LECO)
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Analysts at Gabelli cut their FY2020 earnings estimates for Lincoln Electric in a research report issued to clients and investors on Monday, November 19th. Gabelli analyst M. Trusz now expects that the industrial products company will earn $6.10 per share for the year, down from their previous estimate of $6.15. Gabelli has a “Buy” rating and a $111.00 price objective on the stock. Gabelli also issued estimates for Lincoln Electric’s FY2022 earnings at $7.40 EPS.
Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported $1.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.21. Lincoln Electric had a net margin of 7.40% and a return on equity of 31.77%. The business had revenue of $737.10 million for the quarter, compared to analysts’ expectations of $763.42 million.
LECO opened at $81.73 on Wednesday. Lincoln Electric has a one year low of $75.07 and a one year high of $101.34. The company has a current ratio of 2.58, a quick ratio of 1.88 and a debt-to-equity ratio of 0.75. The company has a market cap of $5.33 billion, a PE ratio of 21.56, a P/E/G ratio of 1.32 and a beta of 1.27.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its position in shares of Lincoln Electric by 118.3% during the third quarter. Morgan Stanley now owns 208,775 shares of the industrial products company’s stock worth $19,507,000 after purchasing an additional 113,117 shares in the last quarter. B. Riley Wealth Management Inc. bought a new position in shares of Lincoln Electric during the third quarter worth $285,000. Banco de Sabadell S.A bought a new position in shares of Lincoln Electric during the third quarter worth $599,000. Koshinski Asset Management Inc. bought a new position in shares of Lincoln Electric during the third quarter worth $1,266,000. Finally, Glenmede Trust Co. NA boosted its position in shares of Lincoln Electric by 254.7% during the third quarter. Glenmede Trust Co. NA now owns 13,926 shares of the industrial products company’s stock worth $1,301,000 after purchasing an additional 10,000 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.
In other news, Director Kathryn Jo Lincoln sold 3,140 shares of Lincoln Electric stock in a transaction on Friday, August 31st. The shares were sold at an average price of $94.10, for a total transaction of $295,474.00. Following the transaction, the director now directly owns 44,194 shares of the company’s stock, valued at $4,158,655.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.04% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a $0.47 dividend. The ex-dividend date is Friday, December 28th. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.39. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. Lincoln Electric’s dividend payout ratio (DPR) is presently 41.16%.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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