Zacks: Brokerages Anticipate Lincoln Electric Holdings, Inc. (LECO) Will Announce Quarterly Sales of $697.76 Million

Wall Street brokerages expect Lincoln Electric Holdings, Inc. (NASDAQ:LECO) to post sales of $697.76 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Lincoln Electric’s earnings, with the lowest sales estimate coming in at $692.60 million and the highest estimate coming in at $702.70 million. Lincoln Electric reported sales of $563.83 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.8%. The company is expected to announce its next quarterly earnings report before the market opens on Wednesday, February 14th.

On average, analysts expect that Lincoln Electric will report full-year sales of $697.76 million for the current financial year, with estimates ranging from $2.57 billion to $2.58 billion. For the next financial year, analysts anticipate that the company will post sales of $2.95 billion per share, with estimates ranging from $2.86 billion to $3.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Lincoln Electric.

A number of research analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating on shares of Lincoln Electric in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub downgraded shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. Barclays raised their target price on shares of Lincoln Electric from $90.00 to $96.00 and gave the company a “hold” rating in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus decreased their target price on shares of Lincoln Electric from $100.00 to $92.00 and set a “hold” rating for the company in a research report on Monday, October 30th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $103.38.

Several institutional investors and hedge funds have recently made changes to their positions in LECO. Koch Industries Inc. bought a new position in shares of Lincoln Electric in the 2nd quarter valued at about $990,000. Janus Henderson Group PLC bought a new position in shares of Lincoln Electric in the 2nd quarter valued at about $89,024,000. Prudential Financial Inc. grew its position in shares of Lincoln Electric by 584.5% in the 3rd quarter. Prudential Financial Inc. now owns 691,029 shares of the industrial products company’s stock valued at $63,353,000 after acquiring an additional 590,070 shares during the period. Old Mutual Global Investors UK Ltd. grew its position in shares of Lincoln Electric by 1,285.3% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 301,350 shares of the industrial products company’s stock valued at $27,627,000 after acquiring an additional 279,596 shares during the period. Finally, KAMES CAPITAL plc bought a new position in shares of Lincoln Electric in the 4th quarter valued at about $23,770,000. 64.12% of the stock is owned by institutional investors.

Lincoln Electric (LECO) opened at $90.00 on Thursday. The firm has a market cap of $5,960.75, a price-to-earnings ratio of 25.25, a P/E/G ratio of 1.77 and a beta of 1.04. Lincoln Electric has a 12-month low of $81.39 and a 12-month high of $101.34. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.55 and a quick ratio of 1.83.

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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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