FY2024 Earnings Estimate for LECO Issued By Seaport Res Ptn

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Stock analysts at Seaport Res Ptn issued their FY2024 EPS estimates for Lincoln Electric in a research report issued on Monday, November 4th. Seaport Res Ptn analyst W. Liptak expects that the industrial products company will earn $8.73 per share for the year. The consensus estimate for Lincoln Electric’s current full-year earnings is $8.83 per share.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.09. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%. The company had revenue of $983.76 million during the quarter, compared to analysts’ expectations of $988.07 million. During the same quarter in the prior year, the company posted $2.40 earnings per share. Lincoln Electric’s revenue for the quarter was down 4.8% compared to the same quarter last year.

Several other brokerages also recently weighed in on LECO. StockNews.com downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a report on Monday. Robert W. Baird dropped their price objective on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus boosted their price objective on Lincoln Electric from $184.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Lincoln Electric presently has a consensus rating of “Hold” and a consensus target price of $221.67.

Lincoln Electric Stock Up 7.2 %

Lincoln Electric stock opened at $218.40 on Thursday. Lincoln Electric has a 1-year low of $169.51 and a 1-year high of $261.13. The business has a fifty day moving average price of $190.47 and a 200-day moving average price of $198.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.85 and a quick ratio of 1.20. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.50 and a beta of 1.14.

Lincoln Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.75 dividend. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, December 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. Lincoln Electric’s payout ratio is presently 33.89%.

Insiders Place Their Bets

In other news, SVP Michael J. Whitehead sold 1,100 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.96, for a total value of $193,556.00. Following the sale, the senior vice president now directly owns 11,178 shares in the company, valued at approximately $1,966,880.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.63% of the company’s stock.

Institutional Trading of Lincoln Electric

A number of large investors have recently made changes to their positions in LECO. BNP Paribas Financial Markets increased its position in shares of Lincoln Electric by 142.9% in the 1st quarter. BNP Paribas Financial Markets now owns 13,702 shares of the industrial products company’s stock valued at $3,500,000 after purchasing an additional 8,061 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in Lincoln Electric by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 50,061 shares of the industrial products company’s stock valued at $12,788,000 after purchasing an additional 648 shares during the last quarter. Gallacher Capital Management LLC acquired a new stake in shares of Lincoln Electric in the 1st quarter valued at about $392,000. Atomi Financial Group Inc. acquired a new position in shares of Lincoln Electric in the first quarter valued at approximately $242,000. Finally, Fiduciary Family Office LLC grew its position in Lincoln Electric by 15.7% in the 1st quarter. Fiduciary Family Office LLC now owns 2,515 shares of the industrial products company’s stock valued at $642,000 after buying an additional 342 shares during the last quarter. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.