ESAB (NYSE:ESAB) Releases FY33 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ESAB shares. Evercore ISI boosted 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. Stifel Nicolaus boosted their price target on ESAB from $106.00 to $114.00 and gave the company a buy rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded ESAB from a neutral rating to an overweight rating and upped their price target for the stock from $111.00 to $125.00 in a research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $93.75.

ESAB Stock Up 1.4 %

ESAB stock traded up $1.44 during trading on Friday, reaching $104.94. The stock had a trading volume of 280,486 shares, compared to its average volume of 228,637. ESAB has a 1-year low of $57.53 and a 1-year high of $114.77. The company has a market capitalization of $6.34 billion, a P/E ratio of 27.47, a PEG ratio of 2.11 and a beta of 1.55. The company has a current ratio of 1.65, a quick ratio of 0.98 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $105.27 and a 200 day moving average price of $89.92.

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

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. ESAB’s payout ratio is 6.28%.

Insider Buying and Selling

In related news, Director Rajiv Vinnakota sold 856 shares of the company’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 transaction of $85,172.00. Following the sale, the director now directly owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Christopher M. Hix sold 7,465 shares of the company’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 completion of the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rajiv Vinnakota sold 856 shares of the firm’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 completion of the sale, the director now directly owns 6,779 shares in the company, valued at approximately $674,510.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,833 shares of company stock worth $1,074,985. Corporate 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.