ESAB Co. (NYSE:ESAB) Plans Quarterly Dividend of $0.08

ESAB Co. (NYSE:ESAB) declared a quarterly dividend on Monday, March 3rd, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be paid a dividend of 0.08 per share on Thursday, April 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, April 4th.

ESAB has a dividend payout ratio of 5.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ESAB to earn $5.83 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 5.5%.

ESAB Stock Performance

Shares of ESAB opened at $120.69 on Tuesday. The business’s 50 day moving average is $122.42 and its two-hundred day moving average is $116.92. ESAB has a 52-week low of $88.54 and a 52-week high of $135.97. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.01 and a beta of 1.36. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB) last announced its earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The company had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. Analysts forecast that ESAB will post 5.16 EPS for the current fiscal year.

Analyst Ratings Changes

ESAB has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target for the company. JPMorgan Chase & Co. lowered their price target on ESAB from $135.00 to $133.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Stifel Nicolaus lowered their price target on ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a report on Friday, February 21st. Evercore ISI upgraded ESAB from an “underperform” rating to an “inline” rating and lowered their price objective for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. Finally, Oppenheimer restated an “outperform” rating and set a $144.00 price objective (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

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.