ESCO Technologies (NYSE:ESE) Releases Q3 2024 Earnings Guidance

ESCO Technologies (NYSE:ESE) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.160-1.220 for the period, compared to the consensus estimate of 1.260. The company issued revenue guidance of -. ESCO Technologies also updated its FY 2024 guidance to 4.150-4.300 EPS.

Analysts Set New Price Targets

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

ESCO Technologies Stock Up 1.9 %

Shares of ESE traded up $2.08 during mid-day trading on Thursday, hitting $111.52. 130,886 shares of the company’s stock were exchanged, compared to its average volume of 134,657. The company has a market cap of $2.88 billion, a PE ratio of 30.96 and a beta of 1.14. ESCO Technologies has a 52 week low of $89.77 and a 52 week high of $118.60. The company has a 50-day simple moving average of $102.72 and a 200 day simple moving average of $104.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.98 and a quick ratio of 1.31.

ESCO Technologies (NYSE:ESE) last released its quarterly earnings data on Thursday, February 8th. The scientific and technical instruments company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $218.30 million during the quarter, compared to analyst estimates of $221.44 million. ESCO Technologies had a net margin of 9.60% and a return on equity of 8.59%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. On average, research analysts forecast that ESCO Technologies will post 4.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Leon J. Olivier sold 900 shares of the company’s stock in a transaction dated 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 accessible through the SEC website. 0.80% of the stock is currently owned by insiders.

About ESCO Technologies

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.