Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Equities research analysts at Oppenheimer lowered their FY2018 earnings per share (EPS) estimates for shares of Lincoln Electric in a report released on Friday, October 26th. Oppenheimer analyst B. Blair now expects that the industrial products company will post earnings of $4.70 per share for the year, down from their prior forecast of $4.75. Oppenheimer currently has a “Buy” rating and a $95.00 target price on the stock. Oppenheimer also issued estimates for Lincoln Electric’s Q4 2018 earnings at $1.17 EPS, FY2019 earnings at $5.30 EPS and FY2020 earnings at $5.75 EPS.
Several other analysts have also weighed in on LECO. Barclays set a $90.00 price objective on shares of Lincoln Electric and gave the company an “equal weight” rating in a research note on Friday, October 26th. BidaskClub lowered shares of Lincoln Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, October 26th. KeyCorp lowered their price objective on shares of Lincoln Electric from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. ValuEngine lowered shares of Lincoln Electric from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, Zacks Investment Research lowered shares of Lincoln Electric from a “hold” rating to a “sell” rating in a research note on Sunday, July 15th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Lincoln Electric presently has a consensus rating of “Hold” and a consensus target price of $102.44.
Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Thursday, October 25th. The industrial products company reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. The company had revenue of $737.10 million during the quarter, compared to analyst estimates of $763.42 million. Lincoln Electric had a net margin of 7.40% and a return on equity of 31.57%.
Several large investors have recently modified their holdings of LECO. Bank of America Corp DE boosted its holdings in shares of Lincoln Electric by 1,164.8% in the 2nd quarter. Bank of America Corp DE now owns 968,000 shares of the industrial products company’s stock worth $84,952,000 after buying an additional 891,469 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Lincoln Electric by 91.1% in the 2nd quarter. Keybank National Association OH now owns 1,308,640 shares of the industrial products company’s stock worth $114,846,000 after buying an additional 623,921 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Lincoln Electric by 4.5% in the 2nd quarter. BlackRock Inc. now owns 5,695,447 shares of the industrial products company’s stock worth $499,832,000 after buying an additional 246,220 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Lincoln Electric by 202.5% in the 1st quarter. Legal & General Group Plc now owns 225,238 shares of the industrial products company’s stock worth $20,260,000 after buying an additional 150,782 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Lincoln Electric in the 2nd quarter worth about $11,996,000. 70.43% of the stock is currently owned by institutional investors.
In other Lincoln Electric news, Director Kathryn Jo Lincoln sold 3,140 shares of Lincoln Electric stock in a transaction on Friday, August 31st. The shares were sold at an average price of $94.10, for a total transaction of $295,474.00. Following the transaction, the director now directly owns 44,194 shares of the company’s stock, valued at approximately $4,158,655.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William E. Macdonald III sold 3,500 shares of Lincoln Electric stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $92.96, for a total transaction of $325,360.00. Following the transaction, the director now directly owns 15,307 shares in the company, valued at $1,422,938.72. The disclosure for this sale can be found here. 3.04% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.36%. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, December 28th. Lincoln Electric’s payout ratio is currently 41.16%.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, 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's welding products include 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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