ESAB Co. (NYSE:ESAB) Declares Quarterly Dividend of $0.08

ESAB Co. (NYSE:ESAB) announced a quarterly dividend on Monday, March 3rd, Wall Street Journal reports. Investors of record on Friday, April 4th will be paid a dividend of 0.08 per share on Thursday, April 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Friday, April 4th.

ESAB has a dividend payout ratio of 5.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ESAB to earn $5.83 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 5.5%.

ESAB Trading Down 2.4 %

Shares of NYSE:ESAB opened at $117.53 on Wednesday. The company has a market capitalization of $7.11 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.01 and a beta of 1.36. ESAB has a 1 year low of $88.54 and a 1 year high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The business’s 50 day simple moving average is $122.42 and its 200 day simple moving average is $117.07.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.13. The business had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. On average, research analysts anticipate that ESAB will post 5.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and reduced their target price for the company from $122.00 to $120.00 in a report on Monday, February 24th. Stifel Nicolaus reduced their target price on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a report on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on ESAB from $135.00 to $133.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Jefferies Financial Group assumed coverage on ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

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.