Analysts Offer Predictions for LECO FY2024 Earnings

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Seaport Res Ptn issued their FY2024 earnings estimates for Lincoln Electric in a research note issued to investors on Monday, November 4th. Seaport Res Ptn analyst W. Liptak anticipates 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.

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

Lincoln Electric Stock Performance

Shares of NASDAQ:LECO opened at $217.09 on Thursday. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 1.50 and a beta of 1.14. The firm’s 50 day simple moving average is $190.94 and its 200 day simple moving average is $198.36. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.85 and a quick ratio of 1.20. Lincoln Electric has a fifty-two week low of $169.51 and a fifty-two week high of $261.13.

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

Lincoln Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a yield of 1.38%. Lincoln Electric’s payout ratio is 33.89%.

Insider Activity at Lincoln Electric

In related news, SVP Michael J. Whitehead sold 1,100 shares of Lincoln Electric stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.96, for a total transaction of $193,556.00. Following the completion of the transaction, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Lincoln Electric

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in Lincoln Electric by 174.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $27,000 after buying an additional 68 shares during the period. V Square Quantitative Management LLC bought a new position in Lincoln Electric during the second quarter worth about $28,000. UMB Bank n.a. raised its stake in Lincoln Electric by 97.9% in the 3rd quarter. UMB Bank n.a. now owns 283 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 140 shares in the last quarter. Quarry LP boosted its holdings in Lincoln Electric by 41.5% in the 2nd quarter. Quarry LP now owns 300 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 88 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Lincoln Electric by 308.5% during the 3rd quarter. Blue Trust Inc. now owns 335 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 253 shares in the last quarter. 79.61% of the stock is owned by institutional investors.

About Lincoln Electric

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.