ESAB Corporation (NYSE:ESAB) Given Average Recommendation of “Moderate Buy” by Analysts

ESAB Corporation (NYSE:ESAB) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $139.8750.

A number of research analysts recently issued reports on ESAB shares. Roth Mkm set a $142.00 price objective on ESAB in a research note on Thursday, April 16th. DA Davidson cut their price objective on ESAB from $146.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Stifel Nicolaus set a $141.00 price objective on ESAB in a research note on Friday, May 8th. Jefferies Financial Group reiterated a “buy” rating and set a $130.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. Finally, Oppenheimer reiterated an “outperform” rating and set a $140.00 price objective on shares of ESAB in a research note on Tuesday, April 14th.

ESAB Trading Down 0.8%

Shares of NYSE:ESAB opened at $93.05 on Friday. The stock has a 50 day moving average of $97.30 and a 200 day moving average of $109.88. The company has a market cap of $5.66 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91. ESAB has a 12-month low of $83.17 and a 12-month high of $137.42.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $745.60 million for the quarter, compared to the consensus estimate of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, equities research analysts expect that ESAB will post 5.81 EPS for the current year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be paid a dividend of $0.12 per share. This is a boost from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. ESAB’s dividend payout ratio is presently 11.83%.

Institutional Investors Weigh In On ESAB

A number of institutional investors have recently added to or reduced their stakes in ESAB. Thrivent Financial for Lutherans boosted its position in shares of ESAB by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after acquiring an additional 95 shares during the last quarter. Xponance Inc. boosted its position in shares of ESAB by 1.6% during the 3rd quarter. Xponance Inc. now owns 6,488 shares of the company’s stock valued at $725,000 after acquiring an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of ESAB by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock valued at $2,191,000 after acquiring an additional 107 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of ESAB by 5.0% during the 1st quarter. HB Wealth Management LLC now owns 2,479 shares of the company’s stock valued at $240,000 after acquiring an additional 118 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in shares of ESAB by 5.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after acquiring an additional 149 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

About ESAB

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.