ESAB (NYSE:ESAB) Issues FY 2024 Earnings Guidance

ESAB (NYSE:ESAB - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.800-4.950 for the period, compared to the consensus earnings per share 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 Trading Up 12.7 %

Shares of ESAB stock traded up $14.11 on Tuesday, hitting $125.53. The stock had a trading volume of 705,551 shares, compared to its average volume of 248,340. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. ESAB has a twelve month low of $62.46 and a twelve month high of $125.86. The company has a fifty day moving average price of $104.18 and a two-hundred day moving average price of $101.62. The firm has a market cap of $7.59 billion, a P/E ratio of 29.55, a PEG ratio of 1.93 and a beta of 1.42.

ESAB (NYSE:ESAB - Get Free Report) last posted its earnings results on Friday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The firm had revenue of $707.10 million during the quarter, compared to analysts' expectations of $686.75 million. During the same period in the previous year, the firm earned $1.21 earnings per share. The company's revenue was down 1.8% on a year-over-year basis. As a group, analysts forecast that ESAB will post 4.83 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Friday, September 27th. ESAB's payout ratio is currently 7.80%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ESAB. Stifel Nicolaus cut their price objective on shares of ESAB from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, July 18th. Oppenheimer upped their price objective on ESAB from $115.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Bank of America lifted their target price on ESAB from $115.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Evercore ISI reduced their price target on ESAB from $107.00 to $102.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a report on Monday, September 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, ESAB presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.17.

About ESAB

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.