ESAB (NYSE:ESAB) Issues FY33 Earnings Guidance

ESAB (NYSE:ESAB - Get Free Report) issued an update on its FY33 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.75-$4.95 for the period. ESAB also updated its FY 2024 guidance to 4.750-4.950 EPS.

ESAB Stock Performance

ESAB traded down $4.72 on Wednesday, hitting $101.16. The company had a trading volume of 412,841 shares, compared to its average volume of 238,053. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 0.98. The company's fifty day moving average price is $104.72 and its 200 day moving average price is $89.50. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 2.20 and a beta of 1.54. ESAB has a 1-year low of $56.69 and a 1-year high of $114.77.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The company had revenue of $689.40 million for the quarter, compared to the consensus estimate of $644.51 million. ESAB had a return on equity of 17.57% and a net margin of 7.40%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. Equities analysts predict 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. Shareholders of record on Friday, March 29th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB's dividend payout ratio is currently 7.14%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded ESAB from a neutral rating to an overweight rating and boosted their price objective for the company from $111.00 to $125.00 in a research report on Monday, March 18th. Stifel Nicolaus boosted their price objective on ESAB from $106.00 to $114.00 and gave the company a buy rating in a research report on Friday, March 1st. Finally, Evercore ISI boosted their price objective on ESAB from $93.00 to $100.00 and gave the company an in-line rating in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $93.75.

Insider Buying and Selling at ESAB

In other ESAB news, Director Christopher M. Hix sold 7,465 shares of the company's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the sale, the director now directly owns 33,863 shares in the company, valued at $3,361,918.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ESAB news, Director Christopher M. Hix sold 7,465 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the transaction, the director now owns 33,863 shares of the company's stock, valued at $3,361,918.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rajiv Vinnakota sold 856 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was 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 directly owns 6,779 shares in the company, valued at approximately $674,510.50. The disclosure for this sale can be found here. Insiders have sold 10,833 shares of company stock worth $1,074,985 over the last three months. Company insiders own 7.20% 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.