Exponent (NASDAQ:EXPO) Hits New 52-Week High After Strong Earnings

Exponent, Inc. (NASDAQ:EXPO)’s stock price reached a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $102.52 and last traded at $101.87, with a volume of 235195 shares trading hands. The stock had previously closed at $79.68.

The business services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Exponent had a net margin of 18.69% and a return on equity of 28.49%. The business had revenue of $137.21 million during the quarter, compared to the consensus estimate of $125.98 million. During the same quarter last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year.

Exponent Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Exponent’s previous quarterly dividend of $0.26. Exponent’s dividend payout ratio (DPR) is currently 57.44%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXPO. Truist Financial cut their target price on shares of Exponent from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. StockNews.com upgraded shares of Exponent from a “sell” rating to a “hold” rating in a research report on Monday, March 4th.

Insiders Place Their Bets

In other news, insider Eric Guyer sold 3,367 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $78.49, for a total value of $264,275.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Exponent

Large investors have recently modified their holdings of the company. Operose Advisors LLC bought a new position in shares of Exponent in the third quarter valued at approximately $39,000. Janiczek Wealth Management LLC grew its stake in Exponent by 293.7% in the 1st quarter. Janiczek Wealth Management LLC now owns 626 shares of the business services provider’s stock worth $52,000 after buying an additional 467 shares in the last quarter. Principal Securities Inc. purchased a new position in Exponent in the 4th quarter worth approximately $69,000. YHB Investment Advisors Inc. purchased a new position in Exponent in the 1st quarter worth approximately $75,000. Finally, Signaturefd LLC grew its stake in Exponent by 157.7% in the 3rd quarter. Signaturefd LLC now owns 915 shares of the business services provider’s stock worth $78,000 after buying an additional 560 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Exponent Stock Performance

The firm has a market cap of $4.82 billion, a PE ratio of 48.83 and a beta of 0.68. The stock’s 50 day simple moving average is $79.93 and its 200 day simple moving average is $81.94.

About Exponent

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.