Zacks Research Comments on Lincoln Electric Holdings, Inc.'s FY2023 Earnings (NASDAQ:LECO)

Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) - Investment analysts at Zacks Research upped their FY2023 earnings estimates for Lincoln Electric in a research report issued on Wednesday, August 9th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $9.05 for the year, up from their previous forecast of $8.93. The consensus estimate for Lincoln Electric's current full-year earnings is $9.07 per share. Zacks Research also issued estimates for Lincoln Electric's Q1 2024 earnings at $2.23 EPS, Q2 2024 earnings at $2.46 EPS, Q3 2024 earnings at $2.36 EPS, Q4 2024 earnings at $2.33 EPS, FY2024 earnings at $9.38 EPS, Q1 2025 earnings at $2.52 EPS and FY2025 earnings at $10.46 EPS.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.12. Lincoln Electric had a return on equity of 46.60% and a net margin of 12.04%. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same period in the previous year, the firm posted $2.18 EPS. Lincoln Electric's revenue was up 9.4% compared to the same quarter last year.

Several other brokerages have also recently issued reports on LECO. CL King began coverage on shares of Lincoln Electric in a research note on Tuesday, May 16th. They set a "neutral" rating on the stock. Stifel Nicolaus upped their price objective on shares of Lincoln Electric from $176.00 to $211.00 in a research note on Wednesday, July 19th. Barclays raised their target price on shares of Lincoln Electric from $145.00 to $185.00 in a research note on Tuesday, May 2nd. Oppenheimer lowered Lincoln Electric from an "outperform" rating to a "market perform" rating in a research report on Friday, July 21st. Finally, 888 reissued a "maintains" rating on shares of Lincoln Electric in a research note on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Lincoln Electric presently has a consensus rating of "Hold" and an average price target of $187.00.

Read Our Latest Stock Report on LECO

Shares of NASDAQ:LECO traded down $2.69 during trading on Friday, reaching $189.60. The stock had a trading volume of 1,736 shares, compared to its average volume of 381,901. The business has a fifty day moving average price of $196.05 and a 200-day moving average price of $176.97. Lincoln Electric has a 1-year low of $120.01 and a 1-year high of $210.86. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.03. The stock has a market cap of $10.88 billion, a PE ratio of 23.19, a PEG ratio of 1.41 and a beta of 1.16.

Institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. boosted its holdings in Lincoln Electric by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 4,389 shares of the industrial products company's stock valued at $872,000 after acquiring an additional 135 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Lincoln Electric by 4.1% in the second quarter. Osaic Holdings Inc. now owns 14,700 shares of the industrial products company's stock valued at $2,920,000 after purchasing an additional 580 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Lincoln Electric by 10.6% in the second quarter. Commonwealth Equity Services LLC now owns 13,700 shares of the industrial products company's stock valued at $2,721,000 after purchasing an additional 1,313 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in Lincoln Electric during the 2nd quarter worth approximately $7,448,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Lincoln Electric by 10.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 282,805 shares of the industrial products company's stock valued at $56,174,000 after buying an additional 25,615 shares during the period. 78.91% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Jennifer I. Ansberry sold 8,962 shares of the company's stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $200.27, for a total value of $1,794,819.74. Following the transaction, the executive vice president now owns 19,570 shares of the company's stock, valued at approximately $3,919,283.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Peter M. Pletcher sold 1,845 shares of Lincoln Electric stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $190.92, for a total value of $352,247.40. Following the completion of the sale, the senior vice president now owns 4,429 shares in the company, valued at approximately $845,584.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer I. Ansberry sold 8,962 shares of the company's stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $200.27, for a total value of $1,794,819.74. Following the transaction, the executive vice president now owns 19,570 shares in the company, valued at $3,919,283.90. The disclosure for this sale can be found here. Insiders sold a total of 108,017 shares of company stock valued at $21,014,732 over the last quarter. 2.90% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Saturday, September 30th will be given a $0.64 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.56 annualized dividend and a yield of 1.35%. Lincoln Electric's payout ratio is 31.26%.

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.

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