Lincoln Electric Holdings, Inc. (LECO) Expected to Announce Quarterly Sales of $649.97 Million
Equities analysts predict that Lincoln Electric Holdings, Inc. (NASDAQ:LECO) will post sales of $649.97 million for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Lincoln Electric Holdings’ earnings, with the highest sales estimate coming in at $669.70 million and the lowest estimate coming in at $591.71 million. Lincoln Electric Holdings reported sales of $567.65 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.5%. The business is scheduled to issue its next quarterly earnings results on Friday, October 20th.
On average, analysts expect that Lincoln Electric Holdings will report full year sales of $649.97 million for the current financial year, with estimates ranging from $2.39 billion to $2.63 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.88 billion per share, with estimates ranging from $2.45 billion to $3.04 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Lincoln Electric Holdings.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The business had revenue of $626.90 million for the quarter, compared to analysts’ expectations of $620.28 million. During the same period last year, the business earned $0.83 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis.
LECO has been the topic of several research analyst reports. Deutsche Bank AG cut their price objective on Lincoln Electric Holdings from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $93.00 price objective on shares of Lincoln Electric Holdings in a research report on Tuesday, June 27th. Barclays PLC reaffirmed an “equal weight” rating and issued a $82.00 price objective (up previously from $75.00) on shares of Lincoln Electric Holdings in a research report on Saturday, April 22nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 price objective (up previously from $86.00) on shares of Lincoln Electric Holdings in a research report on Saturday, April 22nd. Finally, Zacks Investment Research downgraded Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $89.67.
Lincoln Electric Holdings (NASDAQ LECO) opened at 87.09 on Thursday. Lincoln Electric Holdings has a 12 month low of $59.27 and a 12 month high of $97.97. The firm’s 50-day moving average is $91.68 and its 200-day moving average is $88.12. The company has a market capitalization of $5.74 billion, a PE ratio of 25.17 and a beta of 0.97.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, September 28th. Lincoln Electric Holdings’s payout ratio is 40.46%.
In other news, VP Steven B. Hedlund sold 4,503 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $94.40, for a total transaction of $425,083.20. Following the transaction, the vice president now owns 24,489 shares of the company’s stock, valued at approximately $2,311,761.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas A. Flohn sold 8,540 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $90.15, for a total value of $769,881.00. Following the transaction, the senior vice president now directly owns 31,160 shares in the company, valued at approximately $2,809,074. The disclosure for this sale can be found here. Insiders have sold a total of 45,463 shares of company stock worth $4,140,642 in the last three months. Corporate insiders own 3.27% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC increased its position in Lincoln Electric Holdings by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 65,808 shares of the industrial products company’s stock worth $5,045,000 after buying an additional 3,011 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Lincoln Electric Holdings by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the industrial products company’s stock worth $1,355,000 after buying an additional 300 shares during the last quarter. Retirement Systems of Alabama increased its position in Lincoln Electric Holdings by 58.2% in the first quarter. Retirement Systems of Alabama now owns 126,823 shares of the industrial products company’s stock worth $11,016,000 after buying an additional 46,673 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in Lincoln Electric Holdings by 4.5% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 13,355 shares of the industrial products company’s stock worth $1,160,000 after buying an additional 575 shares during the last quarter. Finally, Personal Capital Advisors Corp purchased a new position in Lincoln Electric Holdings during the first quarter worth about $456,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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