ESAB (NYSE:ESAB) Releases FY 2024 Earnings Guidance

by · The Cerbat Gem

ESAB (NYSE:ESAB – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.800-4.950 for the period, compared to the consensus estimate of 4.850. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion.

ESAB Stock Performance

Shares of ESAB traded up $0.90 during mid-day trading on Friday, hitting $123.94. The stock had a trading volume of 4,522 shares, compared to its average volume of 249,282. The company has a quick ratio of 1.21, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The company has a market cap of $7.49 billion, a PE ratio of 28.82, a PEG ratio of 2.16 and a beta of 1.42. ESAB has a fifty-two week low of $70.78 and a fifty-two week high of $127.33. The company’s fifty day simple moving average is $105.22 and its two-hundred day simple moving average is $101.91.

ESAB (NYSE:ESAB – Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.13. The firm had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, equities analysts expect that ESAB will post 4.88 earnings per share for the current year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. ESAB’s payout ratio is currently 7.49%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ESAB. Oppenheimer reiterated an “outperform” rating and issued a $138.00 price objective (up from $122.00) on shares of ESAB in a research report on Wednesday. Bank of America raised their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Evercore ISI reduced their price objective on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Loop Capital lifted their target price on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Stifel Nicolaus dropped their target price on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Get Our Latest Report on ESAB

Insiders Place Their Bets

In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the sale, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total transaction of $630,500.00. Following the completion of the transaction, the chief financial officer now owns 11,433 shares of the company’s stock, valued at $1,429,125. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the sale, the chief executive officer now directly owns 53,902 shares in the company, valued at approximately $6,627,789.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

About ESAB

(Get Free Report)

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.

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