Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – KeyCorp raised their FY2020 earnings estimates for shares of Lincoln Electric in a research report issued to clients and investors on Tuesday, October 27th. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings of $3.97 per share for the year, up from their previous forecast of $3.64. KeyCorp also issued estimates for Lincoln Electric’s Q4 2020 earnings at $1.06 EPS, Q2 2021 earnings at $1.15 EPS, Q3 2021 earnings at $1.08 EPS, Q4 2021 earnings at $1.14 EPS, FY2021 earnings at $4.46 EPS and FY2022 earnings at $4.90 EPS.
LECO has been the topic of several other reports. Stifel Nicolaus upped their price objective on Lincoln Electric from $93.00 to $102.00 and gave the company a “hold” rating in a research report on Wednesday. BidaskClub raised Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, October 21st. Morgan Stanley upped their price objective on Lincoln Electric from $90.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday. Barclays raised Lincoln Electric from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $96.00 to $117.00 in a report on Monday, October 19th. Finally, Longbow Research upgraded Lincoln Electric from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Monday, October 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $103.33.
LECO stock opened at $100.00 on Thursday. The stock has a market capitalization of $5.94 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.78 and a beta of 1.23. Lincoln Electric has a 12-month low of $59.29 and a 12-month high of $106.20. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 1.08. The stock’s 50 day simple moving average is $95.28 and its 200 day simple moving average is $88.08.
Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.31. The business had revenue of $668.90 million for the quarter, compared to analysts’ expectations of $611.83 million. Lincoln Electric had a return on equity of 33.45% and a net margin of 7.93%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, December 30th. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.49. Lincoln Electric’s dividend payout ratio is presently 41.70%.
In other news, EVP Michele R. Kuhrt sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $97.64, for a total transaction of $488,200.00. Following the completion of the transaction, the executive vice president now owns 11,843 shares in the company, valued at $1,156,350.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Douglas S. Lance sold 3,560 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.38, for a total value of $332,432.80. The disclosure for this sale can be found here. Insiders sold a total of 15,845 shares of company stock valued at $1,535,333 in the last quarter. 3.60% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in LECO. Cerebellum GP LLC bought a new position in shares of Lincoln Electric in the 3rd quarter valued at about $63,000. Cutler Group LP lifted its holdings in shares of Lincoln Electric by 400.0% in the 2nd quarter. Cutler Group LP now owns 1,000 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 800 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Lincoln Electric by 33.2% in the 2nd quarter. Captrust Financial Advisors now owns 1,746 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 435 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Lincoln Electric in the 2nd quarter valued at about $200,000. Finally, Advisor Group Holdings Inc. bought a new stake in Lincoln Electric in the first quarter worth about $224,000. 74.58% of the stock is owned by hedge funds and other institutional investors.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company 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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