ESAB (NYSE:ESAB) Issues FY33 Earnings Guidance

ESAB (NYSE:ESAB) issued an update on its FY33 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.75-$4.95 for the period. ESAB also updated its FY 2024 guidance to 4.750-4.950 EPS.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ESAB shares. Stifel Nicolaus upped their price target on ESAB from $106.00 to $114.00 and gave the stock a buy rating in a research note on Friday, March 1st. Evercore ISI raised their price objective on shares of ESAB from $93.00 to $100.00 and gave the company an in-line rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. upgraded shares of ESAB from a neutral rating to an overweight rating and increased their price target for the company from $111.00 to $125.00 in a report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $93.75.

ESAB Stock Performance

Shares of ESAB traded up $1.44 during trading hours on Friday, hitting $104.94. The stock had a trading volume of 280,486 shares, compared to its average volume of 228,637. The stock has a fifty day moving average price of $105.27 and a 200 day moving average price of $89.92. The firm has a market capitalization of $6.34 billion, a PE ratio of 27.47, a PEG ratio of 2.11 and a beta of 1.55. ESAB has a 12 month low of $57.53 and a 12 month high of $114.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 0.98.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.09. The business had revenue of $690.00 million for the quarter, compared to the consensus estimate of $653.93 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm earned $1.04 earnings per share. Analysts anticipate that ESAB will post 4.82 EPS for the current year.

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date was Wednesday, March 27th. ESAB’s dividend payout ratio is 6.28%.

Insider Buying and Selling at ESAB

In other news, Director Didier P. Teirlinck sold 2,512 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $99.00, for a total transaction of $248,688.00. Following the sale, the director now directly owns 33,863 shares in the company, valued at approximately $3,352,437. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total value of $85,172.00. Following the sale, the director now owns 6,779 shares in the company, valued at approximately $674,510.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Didier P. Teirlinck sold 2,512 shares of ESAB stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $99.00, for a total value of $248,688.00. Following the completion of the sale, the director now directly owns 33,863 shares in the company, valued at $3,352,437. The disclosure for this sale can be found here. Insiders have sold 10,833 shares of company stock valued at $1,074,985 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.