ESAB Co. (NYSE:ESAB) Declares $0.08 Quarterly Dividend

ESAB Co. (NYSE:ESAB) announced a quarterly dividend on Monday, March 3rd, Wall Street Journal reports. Stockholders of record on Friday, April 4th will be paid a dividend of 0.08 per share on Thursday, April 17th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, April 4th.

ESAB has a dividend payout ratio of 5.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect ESAB to earn $5.83 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 5.5%.

ESAB Stock Down 3.7 %

NYSE:ESAB opened at $120.69 on Tuesday. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.01 and a beta of 1.36. ESAB has a 1-year low of $88.54 and a 1-year high of $135.97. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $122.42 and its 200 day moving average price is $116.92.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.13. The firm had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. On average, sell-side analysts forecast that ESAB will post 5.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on ESAB from $135.00 to $133.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Stifel Nicolaus dropped their target price on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group assumed coverage on ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 target price (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. Finally, Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and lowered their price objective for the company from $122.00 to $120.00 in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $133.14.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.