Oppenheimer Holdings Weighs in on Lincoln Electric Holdings, Inc.’s Q4 2017 Earnings (LECO)
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Research analysts at Oppenheimer Holdings increased their Q4 2017 earnings estimates for shares of Lincoln Electric Holdings in a report released on Monday. Oppenheimer Holdings analyst J. Giannakouros now anticipates that the industrial products company will post earnings per share of $0.97 for the quarter, up from their previous forecast of $0.94. Oppenheimer Holdings has a “Hold” rating on the stock.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). The firm had revenue of $669.50 million for the quarter, compared to analysts’ expectations of $658.48 million. Lincoln Electric Holdings had a net margin of 11.34% and a return on equity of 30.48%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS.
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A number of other equities analysts also recently issued reports on LECO. Stifel Nicolaus dropped their price target on Lincoln Electric Holdings from $100.00 to $92.00 and set a “hold” rating on the stock in a research report on Monday. FBR & Co reissued a “buy” rating and set a $115.00 price target (up previously from $105.00) on shares of Lincoln Electric Holdings in a research report on Friday, October 27th. Royal Bank Of Canada reissued a “hold” rating on shares of Lincoln Electric Holdings in a research report on Monday. Zacks Investment Research raised Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Tuesday. Finally, ValuEngine downgraded Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $96.43.
Shares of Lincoln Electric Holdings (LECO) traded up 0.19% during trading on Wednesday, reaching $91.84. The company’s stock had a trading volume of 111,019 shares. The company has a 50-day moving average price of $93.39 and a 200-day moving average price of $90.67. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 26.54 and a beta of 1.01. Lincoln Electric Holdings has a one year low of $63.49 and a one year high of $99.59.
Several hedge funds and other institutional investors have recently modified their holdings of LECO. Teachers Advisors LLC lifted its stake in shares of Lincoln Electric Holdings by 24.3% during the 1st quarter. Teachers Advisors LLC now owns 81,797 shares of the industrial products company’s stock worth $7,105,000 after purchasing an additional 15,989 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Lincoln Electric Holdings by 5.2% during the 1st quarter. TIAA CREF Investment Management LLC now owns 114,088 shares of the industrial products company’s stock worth $9,910,000 after purchasing an additional 5,624 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Lincoln Electric Holdings by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 524,325 shares of the industrial products company’s stock valued at $45,542,000 after buying an additional 27,648 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Lincoln Electric Holdings by 8.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 197,328 shares of the industrial products company’s stock valued at $17,140,000 after buying an additional 14,572 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Lincoln Electric Holdings in the first quarter valued at about $607,000. Hedge funds and other institutional investors own 60.60% of the company’s stock.
In related news, VP Michele R. Kuhrt sold 3,080 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $88.55, for a total transaction of $272,734.00. Following the completion of the sale, the vice president now directly owns 14,449 shares in the company, valued at approximately $1,279,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.27% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a dividend of $0.39 per share. This is a boost from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, December 28th. Lincoln Electric Holdings’s dividend payout ratio is 33.65%.
About Lincoln Electric Holdings
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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