ESAB Corporation (NYSE:ESAB) Given Consensus Rating of “Moderate Buy” by Brokerages

ESAB Corporation (NYSE:ESAB) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $138.3750.

ESAB has been the topic of a number of research reports. Wall Street Zen lowered shares of ESAB from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings lowered shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Oppenheimer restated an “outperform” rating and issued a $140.00 price objective on shares of ESAB in a report on Tuesday, April 14th. Jefferies Financial Group restated a “buy” rating and issued a $130.00 price objective (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Finally, Stifel Nicolaus set a $141.00 price objective on shares of ESAB in a report on Friday, May 8th.

Institutional Investors Weigh In On ESAB

A number of hedge funds and other institutional investors have recently modified their holdings of ESAB. FNY Investment Advisers LLC acquired a new stake in ESAB during the 3rd quarter worth $30,000. Los Angeles Capital Management LLC acquired a new stake in ESAB during the 4th quarter worth $33,000. Northwestern Mutual Wealth Management Co. raised its stake in ESAB by 109.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after acquiring an additional 174 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in ESAB by 259.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in ESAB by 3,023.1% during the 4th quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after acquiring an additional 393 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Price Performance

ESAB stock opened at $102.39 on Tuesday. The firm has a market cap of $6.23 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.95 and a beta of 1.19. ESAB has a 52-week low of $82.18 and a 52-week high of $137.42. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. The company’s 50 day moving average is $96.27 and its two-hundred day moving average is $107.92.

ESAB (NYSE:ESAB) last released its earnings results 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 business had revenue of $745.60 million for the quarter, compared to analyst estimates of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.ESAB’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. On average, research analysts expect that ESAB will post 5.82 EPS for the current fiscal year.

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, July 2nd. This is a positive change from ESAB’s previous quarterly dividend of $0.10. ESAB’s dividend payout ratio (DPR) is 11.83%.

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.