ESAB (NYSE:ESAB) Releases FY 2024 Earnings Guidance

ESAB (NYSE:ESAB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.750-4.950 for the period, compared to the consensus EPS estimate of 4.810. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. ESAB also updated its FY33 guidance to $4.75-$4.95 EPS.

ESAB Price Performance

Shares of ESAB opened at $104.94 on Friday. The business’s fifty day moving average is $105.27 and its 200 day moving average is $89.92. ESAB has a 12-month low of $57.53 and a 12-month high of $114.77. The company has a quick ratio of 0.98, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. The stock has a market cap of $6.34 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.11 and a beta of 1.55.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.09. The firm had revenue of $690.00 million for the quarter, compared to the consensus estimate of $653.93 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 earnings per share. Sell-side analysts anticipate that ESAB will post 4.82 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a $0.06 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.24 annualized dividend and a yield of 0.23%. ESAB’s payout ratio is 6.28%.

Analyst Ratings Changes

Several analysts have recently commented on ESAB shares. Stifel Nicolaus increased their price objective on ESAB from $106.00 to $114.00 and gave the stock a buy rating in a research note on Friday, March 1st. JPMorgan Chase & Co. raised ESAB from a neutral rating to an overweight rating and increased their price target for the company from $111.00 to $125.00 in a research report on Monday, March 18th. Finally, Evercore ISI lifted their price objective on shares of ESAB from $93.00 to $100.00 and gave the stock an in-line rating in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $93.75.

Insiders Place Their Bets

In related news, Director Christopher M. Hix sold 7,465 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the transaction, the director now owns 33,863 shares in the company, valued at $3,361,918.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the sale, the director now owns 33,863 shares in the company, valued at approximately $3,361,918.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rajiv Vinnakota sold 856 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the transaction, the director now owns 6,779 shares in the company, valued at approximately $674,510.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,833 shares of company stock valued at $1,074,985. Insiders own 7.00% of the company’s stock.

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.