Q3 2024 EPS Estimates for Lincoln Electric Holdings, Inc. Cut by Analyst (NASDAQ:LECO)

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Stock analysts at Seaport Res Ptn cut their Q3 2024 EPS estimates for shares of Lincoln Electric in a research note issued to investors on Thursday, June 27th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will earn $2.28 per share for the quarter, down from their prior estimate of $2.49. The consensus estimate for Lincoln Electric’s current full-year earnings is $9.22 per share. Seaport Res Ptn also issued estimates for Lincoln Electric’s Q4 2024 earnings at $2.27 EPS, Q1 2025 earnings at $2.36 EPS, Q3 2025 earnings at $2.52 EPS and FY2025 earnings at $9.96 EPS.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, April 25th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.08. Lincoln Electric had a net margin of 13.23% and a return on equity of 43.81%. The business had revenue of $981.20 million for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. Lincoln Electric’s revenue was down 5.6% on a year-over-year basis.

Several other brokerages have also recently weighed in on LECO. Loop Capital dropped their price target on shares of Lincoln Electric from $285.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Oppenheimer restated a “market perform” rating on shares of Lincoln Electric in a report on Monday, April 29th. Stifel Nicolaus cut their target price on Lincoln Electric from $241.00 to $238.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. KeyCorp lowered their price target on Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Finally, Robert W. Baird cut their price objective on shares of Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $225.29.

Lincoln Electric Stock Up 1.2 %

Shares of NASDAQ:LECO opened at $188.64 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.24. Lincoln Electric has a 52-week low of $164.00 and a 52-week high of $261.13. The business’s 50 day simple moving average is $208.15 and its two-hundred day simple moving average is $225.35. The firm has a market cap of $10.74 billion, a P/E ratio of 20.03, a PEG ratio of 1.35 and a beta of 1.17.

Lincoln Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, June 28th. Lincoln Electric’s payout ratio is presently 30.15%.

Institutional Trading of Lincoln Electric

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Lincoln Electric during the fourth quarter worth about $336,627,000. Eagle Asset Management Inc. increased its holdings in shares of Lincoln Electric by 2,984.6% in the 4th quarter. Eagle Asset Management Inc. now owns 439,065 shares of the industrial products company’s stock worth $95,479,000 after buying an additional 424,831 shares during the last quarter. CM Wealth Advisors LLC raised its position in shares of Lincoln Electric by 25,909.0% during the 4th quarter. CM Wealth Advisors LLC now owns 178,942 shares of the industrial products company’s stock valued at $39,040,000 after buying an additional 178,254 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Lincoln Electric by 411.9% during the 3rd quarter. American Century Companies Inc. now owns 191,740 shares of the industrial products company’s stock worth $34,856,000 after acquiring an additional 154,286 shares during the last quarter. Finally, Capital International Investors grew its position in Lincoln Electric by 7.0% in the first quarter. Capital International Investors now owns 1,856,125 shares of the industrial products company’s stock worth $474,129,000 after acquiring an additional 121,914 shares in the last quarter. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

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.