Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Stock analysts at Oppenheimer dropped their FY2017 earnings estimates for shares of Lincoln Electric in a note issued to investors on Tuesday. Oppenheimer analyst J. Giannakouros now anticipates that the industrial products company will post earnings per share of $3.72 for the year, down from their previous forecast of $3.75. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Lincoln Electric’s Q4 2017 earnings at $0.94 EPS.
Other equities research analysts also recently issued reports about the company. Barclays assumed coverage on Lincoln Electric in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $90.00 target price for the company. B. Riley reissued a “buy” rating on shares of Lincoln Electric in a research report on Wednesday, November 1st. Zacks Investment Research cut Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Royal Bank of Canada reiterated a “hold” rating on shares of Lincoln Electric in a research note on Monday, October 30th. Finally, Stifel Nicolaus decreased their target price on Lincoln Electric from $100.00 to $92.00 and set a “hold” rating on the stock in a research note on Monday, October 30th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $97.57.
Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Friday, October 27th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). Lincoln Electric had a return on equity of 28.97% and a net margin of 11.34%. The business had revenue of $669.50 million for the quarter, compared to the consensus estimate of $658.48 million. During the same period in the previous year, the company posted $0.89 earnings per share. Lincoln Electric’s revenue for the quarter was up 17.9% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a $0.39 dividend. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, December 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.73%. Lincoln Electric’s dividend payout ratio (DPR) is presently 33.65%.
Several institutional investors have recently bought and sold shares of the business. BlueMountain Capital Management LLC purchased a new position in shares of Lincoln Electric in the 2nd quarter worth $179,000. Global X Management Co. LLC lifted its position in Lincoln Electric by 220.0% during the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 1,441 shares in the last quarter. CIBC Asset Management Inc purchased a new position in Lincoln Electric during the second quarter valued at $204,000. Dynamic Technology Lab Private Ltd purchased a new position in Lincoln Electric during the second quarter valued at $219,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Lincoln Electric during the third quarter valued at $219,000. 63.66% of the stock is owned by institutional investors and hedge funds.
About Lincoln Electric
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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