Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) – Stock analysts at KeyCorp upped their Q3 2022 earnings per share estimates for Lincoln Electric in a research note issued to investors on Thursday, April 28th. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings of $1.85 per share for the quarter, up from their previous forecast of $1.81. KeyCorp also issued estimates for Lincoln Electric’s FY2022 earnings at $7.70 EPS and FY2023 earnings at $8.51 EPS.
Several other research firms also recently issued reports on LECO. Loop Capital started coverage on shares of Lincoln Electric in a research note on Wednesday, January 5th. They set a “buy” rating and a $170.00 price target on the stock. Robert W. Baird lifted their price target on shares of Lincoln Electric from $154.00 to $163.00 in a research note on Thursday. StockNews.com downgraded shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 12th. Morgan Stanley boosted their target price on shares of Lincoln Electric from $141.00 to $143.00 and gave the stock an “equal weight” rating in a research report on Friday, February 11th. Finally, Stifel Nicolaus dropped their target price on shares of Lincoln Electric from $144.00 to $132.00 and set a “hold” rating for the company in a research report on Monday, April 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Lincoln Electric has a consensus rating of “Hold” and a consensus target price of $150.57.
Lincoln Electric (NASDAQ:LECO – Get Rating) last posted its earnings results on Thursday, April 28th. The industrial products company reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.43. The business had revenue of $925.40 million for the quarter, compared to analyst estimates of $870.50 million. Lincoln Electric had a net margin of 9.65% and a return on equity of 48.26%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 EPS.
Several hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Lincoln Electric during the 4th quarter worth about $76,255,000. Bessemer Group Inc. boosted its stake in shares of Lincoln Electric by 15.3% in the 4th quarter. Bessemer Group Inc. now owns 1,232,261 shares of the industrial products company’s stock valued at $171,863,000 after purchasing an additional 163,826 shares during the last quarter. FMR LLC boosted its stake in Lincoln Electric by 34,326.9% during the 1st quarter. FMR LLC now owns 140,806 shares of the industrial products company’s stock worth $11,810,000 after acquiring an additional 140,397 shares during the last quarter. Morgan Stanley boosted its stake in Lincoln Electric by 171.7% during the 2nd quarter. Morgan Stanley now owns 169,454 shares of the industrial products company’s stock worth $22,320,000 after acquiring an additional 107,096 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Lincoln Electric by 562.1% during the 4th quarter. Millennium Management LLC now owns 118,279 shares of the industrial products company’s stock worth $16,496,000 after acquiring an additional 100,415 shares during the last quarter. Institutional investors own 73.61% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.66%. The ex-dividend date is Wednesday, June 29th. Lincoln Electric’s payout ratio is currently 40.65%.
Lincoln Electric Company Profile (Get Rating)
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 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.
- Get a free copy of the StockNews.com research report on Lincoln Electric (LECO)
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