Lincoln Electric Holdings, Inc. (NASDAQ:LECO) is reporting third quarter financial results on Tuesday 27th October 2020, before market open.
According to analysts surveyed by Thomson Reuters, LECO is expected to report 3Q20 income of $ 0.78 per share from revenue of $ 611.60 million.
For the full year, analysts anticipate top line of $ 2579.74 million, while looking forward to income of $ 3.58 per share bottom line.
Previous Quarter Performance
Lincoln Electric Holdings, Inc. disclosed income for the second quarter of $ 0.80 per share, from the revenue of $ 590.73 million. The quarterly earnings shrunk 37.50 percent while revenues decreased 23.97 percent compared with the same quarter last year.
Wall street analysts are predicting, LECO to report 2Q20 income of $ 0.36 per share from revenue of $ 552.55 million. The bottom line results beat street analysts by $ 0.44 or 122.22 percent, at the same time, top line results outshined analysts by $ 38.18 million or 6.91 percent.
Stock Performance
Shares of Lincoln Electric Holdings, Inc. traded up $ 1.67 or 1.61 percent on Friday, reaching $ 105.54 with volume of 362.10 thousand shares. Lincoln Electric Holdings, Inc. has traded high as $ 106.20 and has cracked $ 104.20 on the downward trend
According to the previous trading day, closing price of $ 105.54, representing a 75.16 % increase from the 52 week low of $ 59.30 and a 2.19 % decrease over the 52 week high of $ 106.20.
The company has a market capital of $ 6.27 billion and is part of the Industrials sector and Tools & Accessories industry.
Recent Analyst recommendations
- On 19th October 2020, upgraded by Barclays to Overweight from Equal-Weight rating, with $ 117.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.49 per share on July 23, 2020. The dividend were payable on October 15, 2020 to holders of record as of the close of business on September 30, 2020 and ex-dividend date on September 29, 2020.
Conference Call
Lincoln Electric Holdings, Inc. will be hosting a conference call at 10:00 AM eastern time on 27th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.lincolnelectric.com
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 offers welding products, including 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.
