ESAB Co. (NYSE:ESAB) Plans Quarterly Dividend of $0.08

ESAB Co. (NYSE:ESAB) announced a quarterly dividend on Thursday, September 12th, Zacks reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.08 per share on Friday, October 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, September 27th.

ESAB has a payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Analysts expect ESAB to earn $5.30 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 6.0%.

ESAB Stock Up 0.1 %

Shares of NYSE ESAB opened at $105.89 on Wednesday. ESAB has a 1 year low of $61.43 and a 1 year high of $114.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.21. The firm has a market cap of $6.40 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.84 and a beta of 1.42. The company has a 50 day simple moving average of $99.46 and a 200 day simple moving average of $101.56.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $707.10 million for the quarter, compared to analyst estimates of $686.75 million. ESAB had a net margin of 9.06% and a return on equity of 17.49%. ESAB’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 earnings per share. On average, research analysts forecast that ESAB will post 4.84 EPS for the current year.

Analyst Upgrades and Downgrades

ESAB has been the subject of a number of analyst reports. Oppenheimer assumed coverage on ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 price objective for the company. Bank of America upped their price objective on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lowered their target price on shares of ESAB from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus dropped their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Evercore ISI decreased their price target on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $108.57.

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.