Analysts Anticipate Lincoln Electric Holdings, Inc. (LECO) Will Post Quarterly Sales of $763.42 Million

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Brokerages expect that Lincoln Electric Holdings, Inc. (NASDAQ:LECO) will announce $763.42 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Lincoln Electric’s earnings. The highest sales estimate is $774.50 million and the lowest is $753.20 million. Lincoln Electric posted sales of $669.49 million in the same quarter last year, which would indicate a positive year over year growth rate of 14%. The firm is scheduled to report its next earnings report before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Lincoln Electric will report full year sales of $3.10 billion for the current financial year, with estimates ranging from $3.08 billion to $3.13 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.26 billion, with estimates ranging from $3.20 billion to $3.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Lincoln Electric.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Monday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.22. The business had revenue of $790.10 million during the quarter, compared to analyst estimates of $810.54 million. Lincoln Electric had a return on equity of 29.77% and a net margin of 8.77%. The company’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share.

Several analysts have recently weighed in on LECO shares. BidaskClub lowered Lincoln Electric from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. ValuEngine downgraded Lincoln Electric from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Oppenheimer set a $105.00 target price on Lincoln Electric and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Zacks Investment Research downgraded Lincoln Electric from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $106.25.

Shares of Lincoln Electric stock traded up $0.21 during trading on Friday, hitting $83.62. The stock had a trading volume of 462,038 shares, compared to its average volume of 413,337. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.74. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.19. Lincoln Electric has a fifty-two week low of $81.48 and a fifty-two week high of $101.34.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, September 27th. Lincoln Electric’s dividend payout ratio is 41.16%.

In other news, Director G Russell Lincoln sold 12,318 shares of the company’s stock in a transaction on Saturday, July 21st. The stock was sold at an average price of $38.98, for a total transaction of $480,155.64. Following the completion of the sale, the director now directly owns 214,923 shares of the company’s stock, valued at $8,377,698.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William E. Macdonald III sold 3,500 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $92.96, for a total value of $325,360.00. Following the sale, the director now directly owns 15,307 shares of the company’s stock, valued at $1,422,938.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,958 shares of company stock valued at $1,100,990. 3.04% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in Lincoln Electric by 4.5% during the second quarter. BlackRock Inc. now owns 5,695,447 shares of the industrial products company’s stock valued at $499,832,000 after buying an additional 246,220 shares during the period. Alecta Pensionsforsakring Omsesidigt raised its position in Lincoln Electric by 7.7% during the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,400,000 shares of the industrial products company’s stock valued at $122,850,000 after buying an additional 100,000 shares during the period. Keybank National Association OH raised its position in Lincoln Electric by 91.1% during the second quarter. Keybank National Association OH now owns 1,308,640 shares of the industrial products company’s stock valued at $114,846,000 after buying an additional 623,921 shares during the period. Royce & Associates LP increased its holdings in shares of Lincoln Electric by 2.9% during the 2nd quarter. Royce & Associates LP now owns 1,205,768 shares of the industrial products company’s stock valued at $105,818,000 after acquiring an additional 34,053 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Lincoln Electric by 0.3% during the 2nd quarter. Fisher Asset Management LLC now owns 1,078,866 shares of the industrial products company’s stock valued at $94,681,000 after acquiring an additional 2,780 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

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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