According to Zacks, “Lincoln Electric remains concerned on persistent weakness in industrial production, commodity prices and slowing emerging market economies. Due to the short cycle nature of its business, management remains cautious about demand trends for 2016. Further, increase in R&D spending will impede the company's margin performance in the near term. For 2016, the company’s results will be hit by the on-going declines in the energy and heavy fabrication sectors on weak mining activity. Moreover, tough comparisons and a stronger dollar will hurt Lincoln Electric's results in the coming quarters.”
A number of other brokerages also recently weighed in on LECO. Barclays PLC reaffirmed an equal weight rating and set a $55.00 price target on shares of Lincoln Electric Holdings in a report on Wednesday, July 27th. TheStreet upgraded shares of Lincoln Electric Holdings from a hold rating to a buy rating in a research report on Wednesday, August 17th. Deutsche Bank AG began coverage on shares of Lincoln Electric Holdings in a research report on Tuesday, September 6th. They set a hold rating and a $70.00 price objective for the company. Wunderlich lowered their price objective on shares of Lincoln Electric Holdings from $85.00 to $75.00 and set a buy rating for the company in a research report on Wednesday, July 20th. Finally, Wellington Shields upgraded shares of Lincoln Electric Holdings from a hold rating to a gradually accumulate rating in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Lincoln Electric Holdings presently has a consensus rating of Hold and an average target price of $66.13.
Lincoln Electric Holdings (NASDAQ:LECO) opened at 63.08 on Monday. The company has a market capitalization of $4.24 billion, a PE ratio of 61.66 and a beta of 1.10. Lincoln Electric Holdings has a 52 week low of $45.54 and a 52 week high of $65.33. The firm has a 50-day moving average of $62.89 and a 200-day moving average of $61.10.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its quarterly earnings results on Monday, July 25th. The company reported $0.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.83. Lincoln Electric Holdings had a net margin of 3.11% and a return on equity of 25.46%. The company earned $592.40 million during the quarter, compared to the consensus estimate of $589.08 million. During the same quarter in the prior year, the firm posted $0.95 EPS. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. Equities analysts expect that Lincoln Electric Holdings will post $3.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, September 28th. Lincoln Electric Holdings’s dividend payout ratio is currently 119.63%.
Several large investors have recently bought and sold shares of LECO. Johnson Financial Group Inc. raised its stake in Lincoln Electric Holdings by 1.1% in the second quarter. Johnson Financial Group Inc. now owns 2,250 shares of the company’s stock worth $133,000 after buying an additional 25 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. purchased a new stake in Lincoln Electric Holdings during the second quarter worth approximately $208,000. Quadrature Capital Ltd purchased a new stake in Lincoln Electric Holdings during the first quarter worth approximately $217,000. LS Investment Advisors LLC raised its stake in Lincoln Electric Holdings by 68.6% in the second quarter. LS Investment Advisors LLC now owns 3,877 shares of the company’s stock worth $229,000 after buying an additional 1,578 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Lincoln Electric Holdings by 195.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,992 shares of the company’s stock worth $236,000 after buying an additional 2,639 shares in the last quarter. 65.28% of the stock is currently owned by institutional investors.
Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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