ESAB Corporation (NYSE:ESAB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of ESAB Corporation (NYSE:ESAB) have been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $138.3750.

ESAB has been the topic of a number of analyst reports. DA Davidson initiated coverage on ESAB in a report on Monday, June 15th. They issued a “buy” rating and a $130.00 price objective on the stock. Weiss Ratings lowered ESAB from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Stifel Nicolaus set a $141.00 price objective on ESAB in a report on Friday, May 8th. Jefferies Financial Group reaffirmed 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, JPMorgan Chase & Co. lowered their price objective on ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, April 10th.

ESAB Stock Performance

NYSE ESAB opened at $97.69 on Tuesday. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. ESAB has a 52-week low of $82.18 and a 52-week high of $137.42. The business’s 50-day moving average price is $95.93 and its 200 day moving average price is $107.48. The firm has a market cap of $5.95 billion, a P/E ratio of 28.90, a P/E/G ratio of 1.84 and a beta of 1.19.

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

ESAB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, July 3rd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. This is a boost from ESAB’s previous quarterly dividend of $0.10. ESAB’s dividend payout ratio is presently 14.20%.

Hedge Funds Weigh In On ESAB

Hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in ESAB by 33.9% during the fourth quarter. Teacher Retirement System of Texas now owns 177,428 shares of the company’s stock worth $19,822,000 after purchasing an additional 44,877 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in ESAB in the 4th quarter valued at approximately $998,000. Defender Capital LLC. purchased a new stake in ESAB in the 4th quarter valued at approximately $3,977,000. TimesSquare Capital Management LLC lifted its stake in ESAB by 37.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 959,101 shares of the company’s stock valued at $107,151,000 after buying an additional 262,850 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock valued at $117,730,000 after buying an additional 1,038,475 shares in the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

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.