$621.56 Million in Sales Expected for Lincoln Electric Holdings, Inc. (NASDAQ:LECO) This Quarter
Equities analysts predict that Lincoln Electric Holdings, Inc. (NASDAQ:LECO) will post sales of $621.56 million for the current quarter, according to Zacks. Seven analysts have made estimates for Lincoln Electric Holdings’ earnings, with the highest sales estimate coming in at $635.30 million and the lowest estimate coming in at $611.00 million. Lincoln Electric Holdings posted sales of $592.42 million in the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The firm is expected to issue its next earnings report before the market opens on Tuesday, July 25th.
On average, analysts expect that Lincoln Electric Holdings will report full year sales of $621.56 million for the current financial year, with estimates ranging from $2.37 billion to $2.48 billion. For the next year, analysts anticipate that the firm will post sales of $2.57 billion per share, with estimates ranging from $2.45 billion to $2.89 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Lincoln Electric Holdings.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its earnings results on Tuesday, April 18th. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. Lincoln Electric Holdings had a return on equity of 30.17% and a net margin of 8.70%. The business had revenue of $580.90 million during the quarter, compared to the consensus estimate of $568.31 million. During the same period in the prior year, the business posted $0.76 earnings per share. Lincoln Electric Holdings’s revenue was up 5.5% compared to the same quarter last year.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Tuesday, June 20th. Stifel Nicolaus restated a “hold” rating and issued a $98.00 price target on shares of Lincoln Electric Holdings in a research report on Friday, July 14th. FBR & Co restated an “outperform” rating on shares of Lincoln Electric Holdings in a research report on Tuesday, July 11th. Royal Bank Of Canada restated a “hold” rating and issued a $93.00 price target on shares of Lincoln Electric Holdings in a research report on Tuesday, June 27th. Finally, Deutsche Bank AG reduced their price target on Lincoln Electric Holdings from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $88.00.
In other Lincoln Electric Holdings news, Director David H. Gunning sold 5,000 shares of Lincoln Electric Holdings stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $90.00, for a total transaction of $450,000.00. Following the transaction, the director now directly owns 9,146 shares in the company, valued at $823,140. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Steven B. Hedlund sold 4,503 shares of Lincoln Electric Holdings stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $94.40, for a total value of $425,083.20. Following the transaction, the vice president now owns 24,489 shares in the company, valued at $2,311,761.60. The disclosure for this sale can be found here. Insiders sold a total of 60,930 shares of company stock worth $5,529,686 over the last 90 days. 3.27% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Meadow Creek Investment Management LLC raised its position in Lincoln Electric Holdings by 6.6% in the first quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the industrial products company’s stock valued at $157,000 after buying an additional 112 shares in the last quarter. Park National Corp OH acquired a new position in Lincoln Electric Holdings during the first quarter valued at $206,000. Neuburgh Advisers LLC raised its position in Lincoln Electric Holdings by 6.6% in the first quarter. Neuburgh Advisers LLC now owns 2,486 shares of the industrial products company’s stock valued at $216,000 after buying an additional 154 shares in the last quarter. Commerce Bank acquired a new position in Lincoln Electric Holdings during the first quarter valued at $219,000. Finally, Oakbrook Investments LLC acquired a new position in Lincoln Electric Holdings during the second quarter valued at $244,000. Hedge funds and other institutional investors own 64.42% of the company’s stock.
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Shares of Lincoln Electric Holdings (NASDAQ LECO) traded down 0.06% during midday trading on Friday, hitting $93.33. The stock had a trading volume of 166,895 shares. Lincoln Electric Holdings has a one year low of $59.27 and a one year high of $97.97. The firm’s 50-day moving average price is $93.25 and its 200-day moving average price is $87.51. The firm has a market capitalization of $6.14 billion, a PE ratio of 31.25 and a beta of 0.98.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.50%. Lincoln Electric Holdings’s dividend payout ratio is currently 46.82%.
Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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