ESCO Technologies (NYSE:ESE) Announces Earnings Results, Beats Estimates By $0.20 EPS

ESCO Technologies (NYSE:ESE) announced its quarterly earnings results on Thursday. The scientific and technical instruments company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20, FiscalAI reports. ESCO Technologies had a return on equity of 11.19% and a net margin of 10.37%.The firm had revenue of $286.50 million for the quarter, compared to the consensus estimate of $306.39 million.

ESCO Technologies Price Performance

Shares of ESE stock traded down $6.64 during trading on Thursday, hitting $210.39. The company had a trading volume of 420,525 shares, compared to its average volume of 174,466. The firm has a market capitalization of $5.43 billion, a P/E ratio of 47.39 and a beta of 1.25. ESCO Technologies has a one year low of $127.17 and a one year high of $226.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.04 and a current ratio of 1.52. The stock’s 50-day moving average price is $214.67 and its 200 day moving average price is $197.77.

Institutional Trading of ESCO Technologies

A number of institutional investors have recently modified their holdings of ESE. Osterweis Capital Management Inc. acquired a new stake in shares of ESCO Technologies during the 2nd quarter worth $39,000. Caitong International Asset Management Co. Ltd grew its stake in ESCO Technologies by 23,300.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 234 shares of the scientific and technical instruments company’s stock worth $49,000 after buying an additional 233 shares in the last quarter. Danske Bank A S bought a new position in ESCO Technologies in the 3rd quarter valued at about $63,000. Smartleaf Asset Management LLC raised its position in shares of ESCO Technologies by 9.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 677 shares of the scientific and technical instruments company’s stock valued at $132,000 after buying an additional 60 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of ESCO Technologies during the 2nd quarter worth approximately $200,000. 95.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of ESCO Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ESCO Technologies in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, ESCO Technologies currently has a consensus rating of “Buy” and a consensus target price of $187.50.

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.