Zacks: Brokerages Anticipate Lincoln Electric Holdings, Inc. (LECO) Will Announce Earnings of $0.93 Per Share
Analysts predict that Lincoln Electric Holdings, Inc. (NASDAQ:LECO) will announce earnings per share (EPS) of $0.93 for the current quarter, according to Zacks. Eight analysts have made estimates for Lincoln Electric Holdings’ earnings, with estimates ranging from $0.91 to $0.95. Lincoln Electric Holdings posted earnings per share of $0.89 in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The firm is scheduled to announce its next quarterly earnings report on Friday, October 20th.
According to Zacks, analysts expect that Lincoln Electric Holdings will report full year earnings of $3.75 per share for the current year, with EPS estimates ranging from $3.70 to $3.79. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.16 per share, with EPS estimates ranging from $3.88 to $4.43. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Lincoln Electric Holdings.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The firm had revenue of $626.90 million for the quarter, compared to analysts’ expectations of $620.28 million. During the same period last year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis.
LECO has been the subject of several analyst reports. Zacks Investment Research raised shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Tuesday, June 20th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $93.00 price target on shares of Lincoln Electric Holdings in a research note on Tuesday, June 27th. FBR & Co reaffirmed an “outperform” rating on shares of Lincoln Electric Holdings in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $98.00 price target on shares of Lincoln Electric Holdings in a research note on Friday, July 14th. Finally, BidaskClub downgraded shares of Lincoln Electric Holdings from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $89.86.
Shares of Lincoln Electric Holdings (NASDAQ LECO) traded up 0.41% during trading on Thursday, reaching $90.04. 201,827 shares of the company’s stock were exchanged. The stock has a market cap of $5.93 billion, a PE ratio of 26.02 and a beta of 0.98. Lincoln Electric Holdings has a 52-week low of $59.27 and a 52-week high of $97.97. The stock’s 50 day moving average price is $86.76 and its 200-day moving average price is $88.82.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, September 28th. Lincoln Electric Holdings’s dividend payout ratio is presently 40.46%.
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In related news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric Holdings stock in a transaction on Monday, September 11th. The shares were sold at an average price of $88.55, for a total transaction of $272,734.00. Following the completion of the transaction, the vice president now owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.27% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Lincoln Electric Holdings by 1.7% during the second quarter. Vanguard Group Inc. now owns 5,471,416 shares of the industrial products company’s stock worth $503,862,000 after buying an additional 88,871 shares during the last quarter. BlackRock Inc. raised its stake in Lincoln Electric Holdings by 1.0% during the second quarter. BlackRock Inc. now owns 5,016,540 shares of the industrial products company’s stock worth $461,973,000 after buying an additional 48,850 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Lincoln Electric Holdings by 4.9% during the second quarter. JPMorgan Chase & Co. now owns 1,270,096 shares of the industrial products company’s stock worth $116,964,000 after buying an additional 59,464 shares during the last quarter. Fisher Asset Management LLC raised its stake in Lincoln Electric Holdings by 4.4% during the second quarter. Fisher Asset Management LLC now owns 1,072,063 shares of the industrial products company’s stock worth $98,726,000 after buying an additional 45,265 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in Lincoln Electric Holdings during the second quarter worth $990,000. 64.68% of the stock is owned by institutional investors and hedge funds.
About Lincoln Electric Holdings
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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