UL Solutions (NYSE:ULS) Announces Earnings Results

UL Solutions (NYSE:ULS) posted its quarterly earnings data on Wednesday. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06, Briefing.com reports. The firm had revenue of $730.00 million for the quarter, compared to analysts’ expectations of $718.73 million. The firm’s revenue was up 6.0% compared to the same quarter last year.

UL Solutions Stock Up 1.8 %

UL Solutions stock opened at $51.42 on Friday. The firm has a 50-day simple moving average of $42.41. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.27 and a quick ratio of 1.27. UL Solutions has a 12-month low of $33.15 and a 12-month high of $52.83.

UL Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 3rd were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.97%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday. Jefferies Financial Group initiated coverage on shares of UL Solutions in a research report on Tuesday, May 7th. They set a “buy” rating and a $42.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on UL Solutions from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Bank of America started coverage on UL Solutions in a report on Tuesday, May 7th. They set a “buy” rating and a $42.00 price target on the stock. Finally, UBS Group started coverage on shares of UL Solutions in a research note on Tuesday, May 7th. They issued a “neutral” rating and a $38.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.90.

UL Solutions Company Profile

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.