UL Solutions (NYSE:ULS) Announces Earnings Results, Beats Estimates By $0.11 EPS

UL Solutions (NYSE:ULS) announced its earnings results on Thursday. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11, Zacks reports. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $726.54 million.

UL Solutions Trading Down 1.8 %

Shares of UL Solutions stock opened at $53.05 on Friday. The firm has a market capitalization of $10.62 billion and a price-to-earnings ratio of 32.74. UL Solutions has a fifty-two week low of $33.15 and a fifty-two week high of $59.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a 50 day moving average of $52.34 and a 200 day moving average of $51.90.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 28th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.98%. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 28th. UL Solutions’s dividend payout ratio is presently 30.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ULS. UBS Group increased their target price on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their target price on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Robert W. Baird increased their target price on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their target price on UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.40.

Insider Buying and Selling

In other news, insider Gitte Schjotz sold 5,941 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $52.58, for a total transaction of $312,377.78. Following the completion of the transaction, the insider now directly owns 69,191 shares in the company, valued at $3,638,062.78. This trade represents a 7.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

About UL Solutions

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.