Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Stock analysts at Oppenheimer boosted their FY2018 earnings per share estimates for Lincoln Electric in a note issued to investors on Wednesday. Oppenheimer analyst J. Giannakouros now expects that the industrial products company will earn $4.30 per share for the year, up from their previous estimate of $4.25. Oppenheimer has a “Outperform” rating and a $105.00 price objective on the stock. Oppenheimer also issued estimates for Lincoln Electric’s FY2019 earnings at $4.75 EPS.
Several other brokerages have also issued reports on LECO. Stifel Nicolaus lowered their price target 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. Zacks Investment Research lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Royal Bank of Canada restated a “hold” rating on shares of Lincoln Electric in a research note on Monday, October 30th. Barclays initiated coverage on Lincoln Electric in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $90.00 price target on the stock. Finally, ValuEngine upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $98.50.
Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.01). Lincoln Electric had a net margin of 11.34% and a return on equity of 28.97%. The firm had revenue of $669.50 million for the quarter, compared to the consensus estimate of $658.48 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its stake in Lincoln Electric by 1.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,067 shares of the industrial products company’s stock valued at $651,000 after purchasing an additional 78 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Lincoln Electric by 0.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 29,200 shares of the industrial products company’s stock valued at $2,689,000 after purchasing an additional 100 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Lincoln Electric by 1.6% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 10,811 shares of the industrial products company’s stock valued at $639,000 after purchasing an additional 168 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Lincoln Electric by 5.7% during the 2nd quarter. Blair William & Co. IL now owns 3,468 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 188 shares during the last quarter. Finally, Commerce Bank grew its holdings in shares of Lincoln Electric by 9.3% during the 2nd quarter. Commerce Bank now owns 2,755 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 63.64% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.39 dividend. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 28th. Lincoln Electric’s dividend payout ratio is currently 37.59%.
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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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