Q3 2023 Earnings Estimate for Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Issued By Zacks Research

Posted by Defense World Staff on Jun 24th, 2023

Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) – Zacks Research boosted their Q3 2023 EPS estimates for shares of Lincoln Electric in a research note issued to investors on Tuesday, June 20th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $2.26 per share for the quarter, up from their previous estimate of $2.25. The consensus estimate for Lincoln Electric’s current full-year earnings is $8.99 per share. Zacks Research also issued estimates for Lincoln Electric’s Q4 2023 earnings at $2.21 EPS, FY2023 earnings at $8.86 EPS, Q1 2024 earnings at $2.18 EPS, Q2 2024 earnings at $2.39 EPS, Q3 2024 earnings at $2.28 EPS, Q4 2024 earnings at $2.24 EPS, FY2024 earnings at $9.10 EPS, Q1 2025 earnings at $2.46 EPS and FY2025 earnings at $10.23 EPS.

Lincoln Electric (NASDAQ:LECO – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Lincoln Electric had a net margin of 12.08% and a return on equity of 48.56%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 EPS.

Several other research analysts have also commented on the stock. CL King started coverage on shares of Lincoln Electric in a research note on Tuesday, May 16th. They set a “neutral” rating on the stock. Loop Capital upped their price objective on shares of Lincoln Electric from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, March 28th. Oppenheimer upped their price objective on shares of Lincoln Electric from $177.00 to $180.00 in a report on Friday, April 28th. Robert W. Baird increased their price target on shares of Lincoln Electric from $184.00 to $200.00 in a report on Tuesday, May 30th. Finally, StockNews.com raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Lincoln Electric has an average rating of “Moderate Buy” and a consensus target price of $181.17.

Lincoln Electric Stock Down 1.7 %

Lincoln Electric stock opened at $189.59 on Friday. The firm has a market cap of $10.92 billion, a PE ratio of 23.67, a P/E/G ratio of 1.45 and a beta of 1.13. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.13 and a current ratio of 1.93. The firm’s 50 day moving average price is $175.03 and its two-hundred day moving average price is $165.25. Lincoln Electric has a twelve month low of $118.17 and a twelve month high of $197.26.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. UBS Group AG boosted its stake in Lincoln Electric by 3.0% during the 4th quarter. UBS Group AG now owns 130,910 shares of the industrial products company’s stock worth $18,915,000 after acquiring an additional 3,816 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Lincoln Electric by 9.7% in the third quarter. Nuveen Asset Management LLC now owns 145,535 shares of the industrial products company’s stock valued at $18,297,000 after purchasing an additional 12,875 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Lincoln Electric in the third quarter valued at approximately $6,086,000. Ethic Inc. increased its holdings in Lincoln Electric by 12.6% during the third quarter. Ethic Inc. now owns 4,632 shares of the industrial products company’s stock worth $582,000 after buying an additional 520 shares during the last quarter. Finally, AXA S.A. acquired a new position in Lincoln Electric during the third quarter worth $855,000. Institutional investors own 78.91% of the company’s stock.

Insider Buying and Selling

In other Lincoln Electric news, COO Steven B. Hedlund sold 8,235 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $166.52, for a total value of $1,371,292.20. Following the completion of the sale, the chief operating officer now owns 41,123 shares in the company, valued at approximately $6,847,801.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Steven B. Hedlund sold 2,180 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $195.77, for a total value of $426,778.60. Following the transaction, the chief operating officer now owns 38,943 shares of the company’s stock, valued at approximately $7,623,871.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven B. Hedlund sold 8,235 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $166.52, for a total transaction of $1,371,292.20. Following the completion of the transaction, the chief operating officer now directly owns 41,123 shares in the company, valued at approximately $6,847,801.96. The disclosure for this sale can be found here. Insiders sold 110,795 shares of company stock worth $21,180,395 in the last quarter. 2.90% of the stock is owned by corporate insiders.

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, June 29th. Lincoln Electric’s dividend payout ratio (DPR) is currently 31.96%.

Lincoln Electric Company Profile

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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, as well as consumables used in the brazing and soldering alloys market.