ESCO Technologies (NYSE:ESE) Updates Q3 2022 Earnings Guidance

ESCO Technologies (NYSE:ESEGet Rating) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.84-$0.91 for the period, compared to the consensus earnings per share estimate of $0.93. The company issued revenue guidance of -.ESCO Technologies also updated its FY 2022 guidance to $3.10-$3.20 EPS.

ESE traded up $2.65 during trading on Tuesday, reaching $63.76. The company had a trading volume of 176 shares, compared to its average volume of 128,076. The firm’s 50-day simple moving average is $68.02 and its 200 day simple moving average is $78.30. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 25.36 and a beta of 1.16. ESCO Technologies has a 12-month low of $60.03 and a 12-month high of $109.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.20 and a current ratio of 1.82.

ESCO Technologies (NYSE:ESEGet Rating) last issued its quarterly earnings results on Monday, May 9th. The scientific and technical instruments company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.11. The firm had revenue of $204.90 million for the quarter, compared to analysts’ expectations of $189.67 million. ESCO Technologies had a return on equity of 6.68% and a net margin of 8.64%. ESCO Technologies’s revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. On average, sell-side analysts expect that ESCO Technologies will post 3.1 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 19th. Shareholders of record on Monday, April 4th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, April 1st. This represents a $0.32 annualized dividend and a yield of 0.50%. ESCO Technologies’s dividend payout ratio (DPR) is presently 13.28%.

Several equities analysts have weighed in on ESE shares. StockNews.com started coverage on ESCO Technologies in a research note on Thursday, March 31st. They set a hold rating on the stock. Zacks Investment Research cut ESCO Technologies from a buy rating to a hold rating in a research note on Tuesday, March 8th. Finally, TheStreet cut ESCO Technologies from a b rating to a c+ rating in a research note on Tuesday, February 8th.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. lifted its holdings in ESCO Technologies by 45.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,265 shares of the scientific and technical instruments company’s stock worth $158,000 after purchasing an additional 709 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of ESCO Technologies during the third quarter worth approximately $202,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of ESCO Technologies during the fourth quarter worth approximately $265,000. LPL Financial LLC lifted its holdings in shares of ESCO Technologies by 11.0% during the third quarter. LPL Financial LLC now owns 4,750 shares of the scientific and technical instruments company’s stock worth $370,000 after buying an additional 469 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new position in shares of ESCO Technologies during the fourth quarter worth approximately $379,000. Hedge funds and other institutional investors own 93.65% of the company’s stock.

ESCO Technologies Company Profile (Get Rating)

ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through Aerospace & Defense, Utility Solutions Group, and RF Shielding and Test segments. 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.

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