UL Solutions (NYSE:ULS) Releases Earnings Results, Meets Expectations

UL Solutions (NYSE:ULS) announced its earnings results on Tuesday. The company reported $0.62 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.62, FiscalAI reports. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The firm had revenue of $823.00 million for the quarter, compared to analyst estimates of $815.72 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year.

UL Solutions Stock Up 0.2%

NYSE:ULS opened at $74.94 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The firm’s 50-day moving average price is $70.69 and its 200-day moving average price is $82.46. The company has a market capitalization of $15.13 billion, a PE ratio of 30.34, a P/E/G ratio of 3.00 and a beta of 0.72. UL Solutions has a 1-year low of $63.17 and a 1-year high of $107.54.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were given a $0.1450 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.8%. UL Solutions’s dividend payout ratio is currently 23.48%.

Analyst Upgrades and Downgrades

ULS has been the subject of a number of research reports. Citigroup lowered their price objective on shares of UL Solutions from $106.40 to $82.80 and set a “neutral” rating for the company in a report on Wednesday, August 5th. UBS Group lifted their price objective on UL Solutions from $96.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. William Blair reissued an “outperform” rating on shares of UL Solutions in a research report on Monday, September 21st. Finally, Wells Fargo & Company lowered their target price on UL Solutions from $120.00 to $104.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.88.

Insider Transactions at UL Solutions

In related news, CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $70.08, for a total transaction of $876,000.00. Following the completion of the transaction, the chief executive officer directly owned 126,724 shares of the company’s stock, valued at $8,880,817.92. This trade represents a 8.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

UL Solutions Company Profile

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that provides testing, inspection, certification, and advisory services. The company helps manufacturers, retailers, regulators, and other organizations evaluate the safety, security, performance, quality, and sustainability of products, facilities, and systems.

Its services cover a broad range of industries, including consumer products, industrial equipment, energy, mobility, information technology, and the built environment.