ESAB (NYSE:ESAB) Releases FY 2024 Earnings Guidance

ESAB (NYSE:ESAB) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 4.750-4.950 for the period, compared to the consensus estimate of 4.930. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.7 billion. ESAB also updated its FY33 guidance to $4.75-4.95 EPS.

Wall Street Analysts Forecast Growth

ESAB has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on ESAB in a report on Thursday, June 20th. They set an outperform rating and a $115.00 target price for the company. Stifel Nicolaus lowered their target price on ESAB from $130.00 to $120.00 and set a buy rating for the company in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, ESAB presently has an average rating of Moderate Buy and a consensus target price of $103.14.

ESAB Stock Down 2.3 %

Shares of ESAB traded down $2.25 during midday trading on Friday, hitting $95.99. The company had a trading volume of 575,152 shares, compared to its average volume of 241,761. The company’s 50-day simple moving average is $96.88 and its 200-day simple moving average is $99.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65. The firm has a market capitalization of $5.80 billion, a P/E ratio of 25.15, a P/E/G ratio of 1.71 and a beta of 1.42. ESAB has a 1 year low of $61.43 and a 1 year high of $114.77.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The business had revenue of $707.10 million during the quarter, compared to analysts’ expectations of $686.75 million. During the same quarter last year, the business posted $1.21 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that ESAB will post 4.9 EPS for the current year.

ESAB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, June 28th. This is a positive change from ESAB’s previous quarterly dividend of $0.06. ESAB’s dividend payout ratio (DPR) is 8.38%.

ESAB Company Profile

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.