Lincoln Electric (NASDAQ:LECO) Issues Quarterly Earnings Results

Lincoln Electric (NASDAQ:LECO) released its quarterly earnings data on Tuesday. The industrial products company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.31, MarketWatch Earnings reports. The business had revenue of $668.90 million for the quarter, compared to analyst estimates of $611.83 million. Lincoln Electric had a return on equity of 33.45% and a net margin of 7.93%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS.

LECO opened at $100.00 on Thursday. The company has a market capitalization of $5.94 billion, a P/E ratio of 28.09, a PEG ratio of 2.78 and a beta of 1.23. The company has a 50-day moving average of $95.28 and a 200-day moving average of $88.08. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.04 and a current ratio of 1.77. Lincoln Electric has a 1-year low of $59.29 and a 1-year high of $106.20.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.51 per share. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, December 30th. Lincoln Electric’s dividend payout ratio (DPR) is currently 41.70%.

In other news, SVP Douglas S. Lance sold 3,560 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.38, for a total transaction of $332,432.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Geoffrey P. Allman sold 4,435 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $98.36, for a total transaction of $436,226.60. Following the transaction, the senior vice president now owns 12,888 shares of the company’s stock, valued at approximately $1,267,663.68. The disclosure for this sale can be found here. Insiders have sold 15,845 shares of company stock worth $1,535,333 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

LECO has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Lincoln Electric from $90.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised shares of Lincoln Electric from a “neutral” rating to an “overweight” rating in a research report on Monday, October 19th. BidaskClub upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Wednesday, October 21st. Stifel Nicolaus boosted their price objective on Lincoln Electric from $93.00 to $102.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Longbow Research upgraded shares of Lincoln Electric from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Monday, October 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Lincoln Electric has a consensus rating of “Hold” and a consensus price target of $103.33.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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Earnings History for Lincoln Electric (NASDAQ:LECO)

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