ESCO Technologies Inc. (ESE) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research lowered shares of ESCO Technologies Inc. (NYSE:ESE) from a buy rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Nexus Energy Software, a subsidiary of ESCO Technologies Inc., enables the vision of what energy information can accomplish for the twenty first Century Utility by transforming both energy company and customer views of energy. Nexus’ leading, proven-at-scale solutions support customer interactions via self-service and the contact center, while enhancing operating functions with analytic applications that integrate meter, customer, and asset data. Nexus’ ENERGYprism, Energy Vision and Nexus MDMS product lines are in use at over eighty five energy companies worldwide, supporting millions of interactions and transactions each year, “
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of ESCO Technologies from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Wunderlich initiated coverage on shares of ESCO Technologies in a research report on Tuesday, June 13th. They set a buy rating and a $71.00 target price on the stock. Finally, FBR & Co restated an outperform rating on shares of ESCO Technologies in a research report on Tuesday, July 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. ESCO Technologies has a consensus rating of Buy and a consensus price target of $67.00.
Shares of ESCO Technologies (NYSE:ESE) opened at 60.60 on Tuesday. The stock’s 50 day moving average is $57.00 and its 200 day moving average is $58.16. ESCO Technologies has a 52-week low of $42.95 and a 52-week high of $63.80. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 30.61 and a beta of 1.04.
ESCO Technologies (NYSE:ESE) last announced its earnings results on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. ESCO Technologies had a net margin of 8.06% and a return on equity of 8.36%. The firm had revenue of $172.00 million for the quarter, compared to analyst estimates of $172.00 million. During the same quarter last year, the business earned $0.49 earnings per share. ESCO Technologies’s revenue was up 22.7% compared to the same quarter last year. On average, equities analysts expect that ESCO Technologies will post $2.08 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, October 2nd. ESCO Technologies’s dividend payout ratio is currently 16.16%.
A number of large investors have recently bought and sold shares of ESE. BlackRock Inc. raised its stake in ESCO Technologies by 46,624.3% during the first quarter. BlackRock Inc. now owns 3,078,663 shares of the scientific and technical instruments company’s stock worth $178,871,000 after purchasing an additional 3,072,074 shares during the period. Janus Henderson Group PLC purchased a new position in ESCO Technologies during the second quarter worth approximately $44,484,000. Conestoga Capital Advisors LLC raised its stake in ESCO Technologies by 212.8% during the second quarter. Conestoga Capital Advisors LLC now owns 465,779 shares of the scientific and technical instruments company’s stock worth $27,784,000 after purchasing an additional 316,885 shares during the period. Vanguard Group Inc. raised its stake in ESCO Technologies by 5.9% during the first quarter. Vanguard Group Inc. now owns 2,238,580 shares of the scientific and technical instruments company’s stock worth $130,062,000 after purchasing an additional 124,629 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in ESCO Technologies by 30.6% during the first quarter. Bank of New York Mellon Corp now owns 441,419 shares of the scientific and technical instruments company’s stock worth $25,647,000 after purchasing an additional 103,472 shares during the period. 94.10% of the stock is currently owned by institutional investors.
ESCO Technologies Company Profile
ESCO Technologies Inc (ESCO) is a producer of engineered products and systems sold to customers for utility, industrial, aerospace and commercial applications. The Company operates through four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.
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