ESCO Technologies Inc. (ESE) to Issue Quarterly Dividend of $0.08 on January 19th
ESCO Technologies Inc. (NYSE:ESE) announced a quarterly dividend on Thursday, November 16th, Wall Street Journal reports. Stockholders of record on Thursday, January 4th will be given a dividend of 0.08 per share by the scientific and technical instruments company on Friday, January 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, January 3rd.
ESCO Technologies has a dividend payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ESCO Technologies to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 11.6%.
Shares of ESCO Technologies (ESE) opened at $60.70 on Friday. ESCO Technologies has a 12 month low of $50.30 and a 12 month high of $65.95. The company has a current ratio of 2.01, a quick ratio of 1.38 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1,552.74, a P/E ratio of 29.32 and a beta of 1.05.
A number of equities research analysts have weighed in on ESE shares. Zacks Investment Research upgraded ESCO Technologies from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, October 3rd. B. Riley restated a “buy” rating on shares of ESCO Technologies in a research note on Wednesday, November 1st. Needham & Company LLC upgraded ESCO Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Finally, Stephens set a $65.00 price objective on ESCO Technologies and gave the company an “equal weight” rating in a research note on Wednesday, December 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $68.75.
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About ESCO Technologies
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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