Lincoln Electric (NASDAQ:LECO) Announces Earnings Results

by · The Markets Daily

Lincoln Electric (NASDAQ:LECO – Get Free Report) released its quarterly earnings data on Thursday. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.09, Briefing.com reports. The business had revenue of $983.76 million for the quarter, compared to the consensus estimate of $988.07 million. Lincoln Electric had a return on equity of 42.24% and a net margin of 12.48%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.40 EPS.

Lincoln Electric Stock Performance

Lincoln Electric stock traded up $9.19 during mid-day trading on Friday, reaching $201.75. 356,731 shares of the company were exchanged, compared to its average volume of 319,249. The firm has a market cap of $11.43 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 2.06. The firm’s 50-day simple moving average is $189.73 and its two-hundred day simple moving average is $199.42. Lincoln Electric has a twelve month low of $169.51 and a twelve month high of $261.13.

Lincoln Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.71. Lincoln Electric’s payout ratio is 32.16%.

Wall Street Analysts Forecast Growth

LECO has been the subject of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Stifel Nicolaus boosted their price target on shares of Lincoln Electric from $184.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Lincoln Electric presently has a consensus rating of “Moderate Buy” and an average target price of $221.67.

Check Out Our Latest Research Report on LECO

Insider Transactions at Lincoln Electric

In other news, SVP Michael J. Whitehead sold 1,100 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.96, for a total value of $193,556.00. Following the completion of the sale, the senior vice president now owns 11,178 shares in the company, valued at approximately $1,966,880.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.63% of the company’s stock.

Lincoln Electric Company Profile

(Get Free Report)

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.

See Also