ESCO Technologies Inc. (ESE) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS
ESCO Technologies Inc. (NYSE:ESE) announced its quarterly earnings data on Monday. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. ESCO Technologies had a net margin of 7.42% and a return on equity of 8.10%. The company had revenue of $159.51 million for the quarter, compared to the consensus estimate of $160.82 million. During the same period in the prior year, the firm posted $0.50 EPS. ESCO Technologies’s revenue for the quarter was up 3.8% on a year-over-year basis. ESCO Technologies updated its FY17 guidance to $2.16-2.26 EPS.
ESCO Technologies (NYSE:ESE) opened at 53.20 on Wednesday. The company has a market cap of $1.37 billion, a PE ratio of 32.82 and a beta of 1.01. The stock has a 50 day moving average of $45.31 and a 200 day moving average of $42.80. ESCO Technologies has a 52 week low of $31.50 and a 52 week high of $53.65.
Several hedge funds have recently added to or reduced their stakes in the stock. Bamco Inc. NY increased its stake in ESCO Technologies by 7.9% in the third quarter. Bamco Inc. NY now owns 20,500 shares of the company’s stock valued at $952,000 after buying an additional 1,500 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in ESCO Technologies by 44.6% in the third quarter. D. E. Shaw & Co. Inc. now owns 15,555 shares of the company’s stock valued at $722,000 after buying an additional 4,797 shares during the period. The Manufacturers Life Insurance Company bought a new position in ESCO Technologies during the third quarter valued at about $783,000. Perkins Investment Management LLC raised its position in ESCO Technologies by 101.8% in the third quarter. Perkins Investment Management LLC now owns 429,598 shares of the company’s stock valued at $19,942,000 after buying an additional 216,756 shares during the period. Finally, Crawford Investment Counsel Inc. raised its position in ESCO Technologies by 212.0% in the third quarter. Crawford Investment Counsel Inc. now owns 48,359 shares of the company’s stock valued at $2,245,000 after buying an additional 32,859 shares during the period. Hedge funds and other institutional investors own 93.59% of the company’s stock.
Several equities analysts have issued reports on ESE shares. Canaccord Genuity restated a “hold” rating and set a $40.00 target price on shares of ESCO Technologies in a research note on Thursday, August 4th. Zacks Investment Research cut shares of ESCO Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $42.67.
About ESCO Technologies
ESCO Technologies Inc is engaged in the production of engineered products and systems. The Company’s products are sold around the world for utility, industrial, aerospace and commercial applications. It conducts its business in three segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test) and Utility Solutions Group (USG).
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