Lincoln Electric Holdings Inc. (NASDAQ:LECO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Lincoln Electric continues to invest in long-term, profitable growth with its broad range of product launches and strategic acquisitions. Further, operational excellence initiatives and interim cost control measures will also aid margins. However, persistent weakness in industrial production, commodity prices and slowing emerging market economies remain concerns for the company. Further, increase in R&D spending will impede its margin performance in the near term. Moreover, tough comparisons and a stronger dollar will hurt Lincoln Electric's results in the coming quarters.”
Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Wunderlich dropped their price objective on shares of Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Barclays PLC reissued an “equal weight” rating and set a $55.00 price objective on shares of Lincoln Electric Holdings in a report on Wednesday, July 27th. Wellington Shields raised shares of Lincoln Electric Holdings from a “hold” rating to a “gradually accumulate” rating in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG initiated coverage on shares of Lincoln Electric Holdings in a report on Tuesday, September 6th. They set a “hold” rating and a $70.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $66.50.
Lincoln Electric Holdings (NASDAQ:LECO) traded up 0.26% during mid-day trading on Friday, hitting $62.10. The company had a trading volume of 121,326 shares. Lincoln Electric Holdings has a 1-year low of $45.54 and a 1-year high of $65.33. The stock has a 50 day moving average price of $62.54 and a 200-day moving average price of $61.24. The stock has a market capitalization of $4.18 billion, a PE ratio of 60.70 and a beta of 1.10.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its earnings results on Monday, July 25th. The company reported $0.83 earnings per share for the quarter, hitting the consensus estimate of $0.83. The company earned $592.40 million during the quarter, compared to the consensus estimate of $589.08 million. Lincoln Electric Holdings had a net margin of 3.11% and a return on equity of 25.46%. Lincoln Electric Holdings’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. On average, analysts forecast that Lincoln Electric Holdings will post $3.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, September 28th. Lincoln Electric Holdings’s dividend payout ratio (DPR) is currently 119.63%.
A number of hedge funds have recently bought and sold shares of LECO. Johnson Financial Group Inc. raised its stake in Lincoln Electric Holdings by 1.1% in the second quarter. Johnson Financial Group Inc. now owns 2,250 shares of the company’s stock worth $133,000 after buying an additional 25 shares during the period. Taylor Cottrill Erickson & Associates Inc. purchased a new stake in Lincoln Electric Holdings during the second quarter worth $208,000. Quadrature Capital Ltd purchased a new stake in Lincoln Electric Holdings during the first quarter worth $217,000. LS Investment Advisors LLC raised its stake in Lincoln Electric Holdings by 68.6% in the second quarter. LS Investment Advisors LLC now owns 3,877 shares of the company’s stock worth $229,000 after buying an additional 1,578 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Lincoln Electric Holdings by 195.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,992 shares of the company’s stock worth $236,000 after buying an additional 2,639 shares during the period. 65.26% of the stock is currently owned by institutional investors.
Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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