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

ESAB Price Performance

ESAB stock traded up $1.44 on Friday, reaching $104.94. The company’s stock had a trading volume of 280,486 shares, compared to its average volume of 228,637. ESAB has a twelve month low of $57.53 and a twelve month high of $114.77. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.11 and a beta of 1.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.98 and a current ratio of 1.65. The business’s fifty day moving average price is $105.27 and its 200 day moving average price is $89.92.

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

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given 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 (DPR) is presently 6.28%.

Insider Buying and Selling at ESAB

In related news, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the transaction, the director now owns 33,863 shares in the company, valued at $3,361,918.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $99.28, for a total transaction of $741,125.20. Following the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,833 shares of company stock worth $1,074,985. Insiders own 7.00% of the company’s stock.

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.