ESCO Technologies (NYSE:ESE) Updates Q3 Earnings Guidance

ESCO Technologies (NYSE:ESE) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.16-1.22 for the period, compared to the consensus earnings per share estimate of $1.26. ESCO Technologies also updated its FY 2024 guidance to 4.150-4.300 EPS.

ESCO Technologies Price Performance

ESE stock traded down $6.45 during mid-day trading on Friday, reaching $105.00. 239,991 shares of the company traded hands, compared to its average volume of 156,181. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.98 and a quick ratio of 1.31. The company has a market capitalization of $2.71 billion, a P/E ratio of 27.56 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 fifty day moving average price of $102.99 and a 200-day moving average price of $104.14.

ESCO Technologies (NYSE:ESE) last posted its earnings results on Thursday, May 9th. The scientific and technical instruments company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. ESCO Technologies had a return on equity of 8.90% and a net margin of 9.94%. The business had revenue of $249.10 million during the quarter, compared to analyst estimates of $241.15 million. During the same quarter in the previous year, the firm earned $0.76 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that ESCO Technologies will post 4.2 earnings per share for the current year.

ESCO Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Wednesday, July 3rd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, July 3rd. ESCO Technologies’s payout ratio is 8.40%.

Analyst Ratings Changes

Separately, StockNews.com lowered ESCO Technologies from a buy rating to a hold rating in a report on Saturday, February 17th.

Insider Transactions at ESCO Technologies

In related news, Director Leon J. Olivier sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $100.26, for a total value of $90,234.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

ESCO Technologies Company Profile

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.