ESCO Technologies (NYSE:ESE) Updates FY24 Earnings Guidance

ESCO Technologies (NYSE:ESEGet Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.15-4.30 for the period, compared to the consensus earnings per share estimate of $4.23. The company issued revenue guidance of $1.02-1.04 billion, compared to the consensus revenue estimate of $1.03 billion. ESCO Technologies also updated its FY 2024 guidance to 4.150-4.300 EPS.

ESCO Technologies Stock Down 5.8 %

Shares of NYSE:ESE traded down $6.45 during midday trading on Friday, hitting $105.00. 239,991 shares of the company’s stock traded hands, compared to its average volume of 156,181. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.31 and a current ratio of 1.98. The company has a market cap of $2.71 billion, a PE ratio of 27.56 and a beta of 1.14. The firm’s fifty day moving average price is $102.99 and its two-hundred day moving average price is $104.14. ESCO Technologies has a twelve month low of $89.77 and a twelve month high of $118.60.

ESCO Technologies (NYSE:ESEGet Free Report) last posted its earnings results on Thursday, May 9th. The scientific and technical instruments company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. The business had revenue of $249.10 million for the quarter, compared to analyst estimates of $241.15 million. ESCO Technologies had a net margin of 9.94% and a return on equity of 8.90%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. On average, equities research analysts anticipate that ESCO Technologies will post 4.2 EPS for the current fiscal year.

ESCO Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Wednesday, July 3rd will be issued a $0.08 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. ESCO Technologies’s dividend payout ratio is currently 8.40%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of ESCO Technologies from a buy rating to a hold rating in a report on Saturday, February 17th.

Check Out Our Latest Stock Report on ESCO Technologies

Insiders Place Their Bets

In other ESCO Technologies news, Director Leon J. Olivier sold 900 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $100.26, for a total value of $90,234.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.80% of the stock is currently owned by company insiders.

About ESCO Technologies

(Get Free Report)

ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through three segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. The Aerospace & Defense segment designs and manufactures filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications; filter mechanisms used in micro-propulsion devices for satellites; and custom designed filters for manned aircraft and submarines.

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