Lincoln Electric Holdings, Inc. (LECO) Expected to Announce Quarterly Sales of $649.31 Million
Equities analysts expect that Lincoln Electric Holdings, Inc. (NASDAQ:LECO) will announce $649.31 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Lincoln Electric Holdings’ earnings, with the highest sales estimate coming in at $669.70 million and the lowest estimate coming in at $591.71 million. Lincoln Electric Holdings posted sales of $567.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.4%. The firm is scheduled to issue its next quarterly earnings report on Friday, October 20th.
According to Zacks, analysts expect that Lincoln Electric Holdings will report full-year sales of $649.31 million for the current fiscal year, with estimates ranging from $2.39 billion to $2.57 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.88 billion per share, with estimates ranging from $2.45 billion to $2.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Lincoln Electric Holdings.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $626.90 million for the quarter, compared to the consensus estimate of $620.28 million. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS.
A number of research firms have recently issued reports on LECO. ValuEngine cut shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus restated a “hold” rating and set a $95.00 target price on shares of Lincoln Electric Holdings in a research note on Wednesday. KeyCorp restated a “hold” rating on shares of Lincoln Electric Holdings in a research note on Friday, August 25th. Zacks Investment Research upgraded shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research note on Tuesday, September 26th. Finally, FBR & Co restated a “buy” rating on shares of Lincoln Electric Holdings in a research note on Monday, August 21st. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $88.86.
In related news, VP Michele R. Kuhrt sold 3,080 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $88.55, for a total transaction of $272,734.00. Following the transaction, the vice president now directly owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.27% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. BlueMountain Capital Management LLC bought a new position in Lincoln Electric Holdings during the second quarter worth about $179,000. Global X Management Co. LLC increased its holdings in Lincoln Electric Holdings by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock valued at $193,000 after buying an additional 1,441 shares during the period. Puzo Michael J bought a new position in Lincoln Electric Holdings in the 2nd quarter valued at about $203,000. CIBC Asset Management Inc bought a new position in Lincoln Electric Holdings in the 2nd quarter valued at about $204,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Lincoln Electric Holdings in the 2nd quarter valued at about $219,000. 63.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lincoln Electric Holdings (NASDAQ:LECO) opened at 94.11 on Thursday. The company has a 50-day moving average of $89.01 and a 200-day moving average of $89.44. The company has a market cap of $6.20 billion, a PE ratio of 27.20 and a beta of 1.01. Lincoln Electric Holdings has a 1-year low of $61.04 and a 1-year high of $97.97.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Thursday, September 28th. Lincoln Electric Holdings’s dividend payout ratio is 40.46%.
ILLEGAL ACTIVITY NOTICE: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was copied illegally and republished in violation of US and international trademark and copyright law. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/10/05/lincoln-electric-holdings-inc-leco-expected-to-announce-quarterly-sales-of-649-31-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lincoln Electric Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln Electric Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.