ESAB Co. (ESAB) to Issue Quarterly Dividend of $0.08 on July 12th

ESAB Co. (NYSE:ESAB) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.08 per share on Friday, July 12th. This represents a $0.32 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, June 28th. This is a positive change from ESAB’s previous quarterly dividend of $0.06.

ESAB has a payout ratio of 5.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ESAB to earn $5.45 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 5.9%.

ESAB Stock Performance

Shares of ESAB stock opened at $94.02 on Wednesday. The stock has a market capitalization of $5.68 billion, a PE ratio of 24.61, a PEG ratio of 1.67 and a beta of 1.48. The business’s 50 day simple moving average is $102.60 and its 200 day simple moving average is $97.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 1.01. ESAB has a one year low of $61.43 and a one year high of $114.77.

ESAB (NYSE:ESAB) last announced its earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $690.00 million during the quarter, compared to the consensus estimate of $653.93 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. ESAB’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 earnings per share. As a group, research analysts forecast that ESAB will post 4.91 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on ESAB shares. Evercore ISI increased their price target on ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded ESAB from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $111.00 to $125.00 in a report on Monday, March 18th. Oppenheimer initiated coverage on ESAB in a research note on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price objective for the company. Finally, Stifel Nicolaus lifted their price target on shares of ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.63.

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.