ESCO Technologies (NYSE:ESE) Updates Q3 Earnings Guidance

ESCO Technologies (NYSE:ESEGet Free Report) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.16-1.22 for the period, compared to the consensus earnings per share estimate of $1.26. ESCO Technologies also updated its FY 2024 guidance to 4.150-4.300 EPS.

Wall Street Analyst Weigh In

Separately, cut shares of ESCO Technologies from a buy rating to a hold rating in a research note on Saturday, February 17th.

View Our Latest Research Report on ESE

ESCO Technologies Stock Down 5.8 %

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

ESCO Technologies (NYSE:ESEGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The scientific and technical instruments company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. ESCO Technologies had a net margin of 9.94% and a return on equity of 8.90%. The business had revenue of $249.10 million for the quarter, compared to analyst estimates of $241.15 million. During the same period last year, the business posted $0.76 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that ESCO Technologies will post 4.2 earnings per share for the current year.

ESCO Technologies Announces Dividend

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

Insider Transactions at ESCO Technologies

In other news, Director Leon J. Olivier sold 900 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $100.26, for a total transaction of $90,234.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.80% of the stock is 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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