Lincoln Electric Holdings, Inc. to Post FY2018 Earnings of $4.25 Per Share, Gabelli Forecasts (LECO)
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Investment analysts at Gabelli increased their FY2018 EPS estimates for shares of Lincoln Electric Holdings in a report issued on Tuesday. Gabelli analyst M. Trusz now anticipates that the industrial products company will earn $4.25 per share for the year, up from their previous forecast of $4.10. Gabelli also issued estimates for Lincoln Electric Holdings’ FY2019 earnings at $4.80 EPS, FY2020 earnings at $5.30 EPS and FY2021 earnings at $5.75 EPS.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). The company had revenue of $669.50 million during the quarter, compared to analysts’ expectations of $658.48 million. Lincoln Electric Holdings had a return on equity of 28.97% and a net margin of 11.34%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. COPYRIGHT VIOLATION NOTICE: “Lincoln Electric Holdings, Inc. to Post FY2018 Earnings of $4.25 Per Share, Gabelli Forecasts (LECO)” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/11/02/lincoln-electric-holdings-inc-to-post-fy2018-earnings-of-4-25-per-share-gabelli-forecasts-leco.html.
LECO has been the topic of several other reports. Zacks Investment Research downgraded shares of Lincoln Electric Holdings from a “buy” rating to a “sell” rating in a report on Monday, October 9th. ValuEngine downgraded shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. KeyCorp reaffirmed a “hold” rating on shares of Lincoln Electric Holdings in a report on Friday, October 20th. FBR & Co reaffirmed a “buy” rating on shares of Lincoln Electric Holdings in a report on Monday, August 21st. Finally, Deutsche Bank AG raised shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Friday, August 4th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $96.43.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, December 28th. This is an increase from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a yield of 1.70%. Lincoln Electric Holdings’s payout ratio is 33.65%.
In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric Holdings 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 completion of the sale, the vice president now directly owns 14,449 shares in the company, valued at $1,279,458.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.27% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlueMountain Capital Management LLC acquired a new stake in shares of Lincoln Electric Holdings during the second quarter valued at about $179,000. Global X Management Co. LLC increased its position in shares of Lincoln Electric Holdings by 220.0% during the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 1,441 shares during the last quarter. Puzo Michael J acquired a new stake in shares of Lincoln Electric Holdings during the second quarter valued at about $203,000. CIBC Asset Management Inc acquired a new stake in shares of Lincoln Electric Holdings during the second quarter valued at about $204,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lincoln Electric Holdings during the second quarter valued at about $219,000. Institutional investors and hedge funds own 60.60% of the company’s stock.
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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