Lincoln Electric Holdings (LECO) reported quarterly earnings results on Tuesday, Apr-19-2016. The company said it had a profit of $0.76 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.68. The company posted revenue of $550.70 million in the period, compared to analysts expectations of $556.02 million. The company’s revenue was down -16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS.
Many Wall Street Analysts have commented on Lincoln Electric Holdings. Shares were Reiterated by Barclays on Apr 13, 2016 to “Equal Weight” and Lowered the Price Target to $ 50 from a previous price target of $51 .Lincoln Electric Holdings was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Apr 4, 2016.
Lincoln Electric Holdings opened for trading at $59.52 and hit $60.3 on the upside on Monday, eventually ending the session at $60.19, with a gain of 0.38% or 0.23 points. The heightened volatility saw the trading volume jump to 6,53,982 shares. Company has a market cap of $4,255 M.
In a different news, on Nov 10, 2015, G Russell Lincoln (director) sold 4,167 shares at $60.81 per share price. According to the SEC, on Feb 27, 2015, Robert J Knoll (director) sold 5,373 shares at $69.63 per share price.
Lincoln Electric Holdings Inc. is a manufacturer of welding cutting and brazing products. Welding products include arc welding power sources wire feeding systems robotic welding packages fume extraction equipment consumable electrodes and fluxes. The Company operates in five segments: North America Welding Europe Welding Asia Pacific Welding South America Welding and The Harris Products Group. The Company’s product offering also includes computer numeric controlled (CNC) plasma and oxy-fuel cutting systems and regulators and torches used in oxy-fuel welding cutting and brazing. In addition the Company is also engaged in brazing and soldering alloys activities. The Company has through wholly owned subsidiaries or joint ventures manufacturing facilities located in the United States Brazil Canada China Colombia France Germany India Indonesia Italy Mexico the Netherlands Poland Portugal Russia Turkey the United Kingdom and Venezuela.