UL Solutions (NYSE:ULS) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

UL Solutions (NYSE:ULS) issued its earnings results on Tuesday. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09, Briefing.com reports. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The firm had revenue of $783.00 million for the quarter, compared to analysts’ expectations of $769.01 million. During the same quarter last year, the company posted $0.49 earnings per share. UL Solutions’s revenue was up 7.1% on a year-over-year basis.

UL Solutions Stock Up 0.8%

Shares of ULS stock opened at $78.53 on Tuesday. UL Solutions has a 1 year low of $48.54 and a 1 year high of $81.84. The stock has a market cap of $15.77 billion, a PE ratio of 48.47 and a beta of 1.05. The business’s fifty day moving average is $71.01 and its 200-day moving average is $69.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.32.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 29th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions’s dividend payout ratio (DPR) is presently 32.10%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Cresset Asset Management LLC raised its position in UL Solutions by 4.0% in the second quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock worth $304,000 after acquiring an additional 159 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after acquiring an additional 614 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of UL Solutions in the 1st quarter valued at approximately $49,000. Creative Planning acquired a new position in UL Solutions in the 2nd quarter worth approximately $208,000. Finally, Bank of Nova Scotia acquired a new position in UL Solutions in the 2nd quarter worth approximately $391,000.

Analysts Set New Price Targets

Several brokerages recently issued reports on ULS. JPMorgan Chase & Co. raised their price target on UL Solutions from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. UBS Group increased their target price on UL Solutions from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of UL Solutions in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.57.

About UL Solutions

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.