Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Research analysts at Oppenheimer raised their FY2022 earnings per share (EPS) estimates for shares of Lincoln Electric in a note issued to investors on Wednesday, October 13th. Oppenheimer analyst B. Blair now anticipates that the industrial products company will earn $7.20 per share for the year, up from their previous forecast of $7.10. Oppenheimer has a “Outperform” rating and a $155.00 price objective on the stock. Oppenheimer also issued estimates for Lincoln Electric’s FY2023 earnings at $7.90 EPS.
A number of other research analysts also recently weighed in on LECO. Morgan Stanley decreased their price target on Lincoln Electric from $142.00 to $138.00 and set an “equal weight” rating for the company in a research note on Wednesday. Zacks Investment Research lowered Lincoln Electric from a “buy” rating to a “sell” rating and set a $141.00 price objective on the stock. in a report on Tuesday, September 28th. Finally, Barclays raised their price objective on Lincoln Electric from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Lincoln Electric has an average rating of “Hold” and a consensus target price of $136.83.
Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Tuesday, July 27th. The industrial products company reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.19. Lincoln Electric had a net margin of 9.97% and a return on equity of 41.01%. The company had revenue of $826.50 million for the quarter, compared to analyst estimates of $790.15 million. During the same period last year, the business posted $0.80 earnings per share. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year.
Several large investors have recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of Lincoln Electric during the first quarter valued at approximately $61,000. Concord Wealth Partners boosted its position in shares of Lincoln Electric by 3,950.0% during the first quarter. Concord Wealth Partners now owns 567 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 553 shares during the last quarter. FMR LLC grew its stake in shares of Lincoln Electric by 32.9% in the 2nd quarter. FMR LLC now owns 690 shares of the industrial products company’s stock worth $91,000 after buying an additional 171 shares in the last quarter. Psagot Investment House Ltd. bought a new stake in shares of Lincoln Electric in the 2nd quarter worth about $132,000. Finally, Van ECK Associates Corp increased its position in shares of Lincoln Electric by 76.5% during the second quarter. Van ECK Associates Corp now owns 1,008 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 437 shares during the period. 74.16% of the stock is owned by hedge funds and other institutional investors.
In other Lincoln Electric news, EVP Jennifer I. Ansberry sold 6,860 shares of the firm’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $134.03, for a total value of $919,445.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.35% of the stock is currently owned by insiders.
The firm also recently disclosed a dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a $0.51 dividend. The ex-dividend date is Wednesday, September 29th. This represents a yield of 1.56%. Lincoln Electric’s dividend payout ratio is 49.16%.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.
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