Brokers Issue Forecasts for Lincoln Electric Holdings, Inc.’s Q2 2022 Earnings (NASDAQ:LECO)
Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) – Investment analysts at Oppenheimer cut their Q2 2022 earnings per share (EPS) estimates for Lincoln Electric in a research note issued on Monday, June 13th. Oppenheimer analyst B. Blair now expects that the industrial products company will post earnings of $2.04 per share for the quarter, down from their previous forecast of $2.07. The consensus estimate for Lincoln Electric’s current full-year earnings is $7.91 per share. Oppenheimer also issued estimates for Lincoln Electric’s Q3 2022 earnings at $1.79 EPS and Q4 2022 earnings at $1.87 EPS.
A number of other equities research analysts have also recently weighed in on LECO. StockNews.com cut Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 12th. Robert W. Baird boosted their target price on Lincoln Electric from $154.00 to $163.00 in a report on Thursday, April 28th. Finally, Stifel Nicolaus dropped their target price on Lincoln Electric from $144.00 to $132.00 and set a “hold” rating on the stock in a report on Monday, April 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $152.17.
The soaring demand for lithium is driven by worldwide demand for electric vehicles (EVs). Lithium is ideal for electric cars. It’s lightweight, stores lots of energy and is rechargeable. Sales of EVs are expected to increase 10-fold by 2030 and estimates are that 1 in 2 cars sold will be electric by 2040.
Shares of NASDAQ LECO opened at $127.69 on Thursday. The company has a current ratio of 1.54, a quick ratio of 0.89 and a debt-to-equity ratio of 0.83. Lincoln Electric has a twelve month low of $121.65 and a twelve month high of $148.54. The stock has a 50 day moving average of $133.07 and a two-hundred day moving average of $132.71. The stock has a market cap of $7.42 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.14 and a beta of 1.14. 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, topping the consensus estimate of $1.63 by $0.47. Lincoln Electric had a return on equity of 48.22% and a net margin of 9.65%. The firm had revenue of $925.40 million during the quarter, compared to analysts’ expectations of $870.50 million. During the same quarter in the previous year, the business earned $1.37 earnings per share. The firm’s revenue was up 22.2% compared to the same quarter last year.
Large investors have recently modified their holdings of the company. CWM LLC purchased a new stake in shares of Lincoln Electric in the fourth quarter valued at $25,000. National Bank of Canada FI purchased a new position in Lincoln Electric during the fourth quarter worth about $29,000. Lazard Asset Management LLC purchased a new position in Lincoln Electric during the first quarter worth about $35,000. Sageworth Trust Co of South Dakota purchased a new position in Lincoln Electric during the fourth quarter worth about $40,000. Finally, UMB Bank N A MO purchased a new position in Lincoln Electric during the fourth quarter worth about $61,000. Institutional investors and hedge funds own 74.17% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.24 annualized dividend and a dividend yield of 1.75%. Lincoln Electric’s dividend payout ratio is currently 40.65%.
About Lincoln Electric (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.
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