Seaport Global Securities Weighs in on Lincoln Electric Holdings Inc.’s Q3 2016 Earnings (LECO)
Lincoln Electric Holdings Inc. (NASDAQ:LECO) – Analysts at Seaport Global Securities dropped their Q3 2016 EPS estimates for Lincoln Electric Holdings in a report issued on Thursday. Seaport Global Securities analyst W. Liptak now forecasts that the firm will post earnings per share of $0.83 for the quarter, down from their prior estimate of $0.87. Seaport Global Securities also issued estimates for Lincoln Electric Holdings’ Q4 2016 earnings at $0.81 EPS, FY2016 earnings at $3.23 EPS, Q1 2017 earnings at $0.82 EPS and Q3 2017 earnings at $0.97 EPS.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.83. The business had revenue of $592.40 million for the quarter, compared to analyst estimates of $589.08 million. Lincoln Electric Holdings had a return on equity of 25.46% and a net margin of 3.11%. Lincoln Electric Holdings’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS.
Other equities research analysts also recently issued research reports about the company. TheStreet upgraded Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th. Zacks Investment Research upgraded Lincoln Electric Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Barclays PLC reiterated an “equal weight” rating and issued a $55.00 price objective on shares of Lincoln Electric Holdings in a research report on Wednesday, July 27th. Wunderlich lowered their price objective on Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Finally, Deutsche Bank AG started coverage on Lincoln Electric Holdings in a research report on Tuesday, September 6th. They set a “hold” rating and a $70.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $66.13.
Shares of Lincoln Electric Holdings (NASDAQ:LECO) opened at 62.62 on Friday. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 61.21 and a beta of 1.18. The firm has a 50 day moving average price of $63.05 and a 200-day moving average price of $60.99. Lincoln Electric Holdings has a 52-week low of $45.54 and a 52-week high of $65.33.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.04%. Lincoln Electric Holdings’s dividend payout ratio (DPR) is currently 119.63%.
Several hedge funds and other institutional investors have recently made changes to their positions in LECO. Johnson Financial Group Inc. boosted its position in shares of Lincoln Electric Holdings by 1.1% in the second quarter. Johnson Financial Group Inc. now owns 2,250 shares of the company’s stock worth $133,000 after buying an additional 25 shares during the period. Taylor Cottrill Erickson & Associates Inc. acquired a new stake in Lincoln Electric Holdings during the second quarter valued at about $208,000. Quadrature Capital Ltd acquired a new stake in Lincoln Electric Holdings during the first quarter valued at about $217,000. LS Investment Advisors LLC boosted its stake in Lincoln Electric Holdings by 68.6% in the second quarter. LS Investment Advisors LLC now owns 3,877 shares of the company’s stock valued at $229,000 after buying an additional 1,578 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Lincoln Electric Holdings by 195.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,992 shares of the company’s stock valued at $236,000 after buying an additional 2,639 shares during the last quarter. 65.28% of the stock is currently owned by hedge funds and other institutional investors.
Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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