ESCO Technologies (NYSE:ESE) Shares Gap Down on Disappointing Earnings

ESCO Technologies Inc. (NYSE:ESE) gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $189.87, but opened at $174.93. ESCO Technologies shares last traded at $189.69, with a volume of 61,459 shares.

The scientific and technical instruments company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.05). ESCO Technologies had a net margin of 10.37% and a return on equity of 11.36%. The company had revenue of $296.34 million during the quarter, compared to analyst estimates of $320.23 million. During the same quarter last year, the business posted $1.16 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis.

Analyst Ratings Changes

A number of research analysts recently weighed in on ESE shares. Wall Street Zen cut shares of ESCO Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Benchmark upped their target price on shares of ESCO Technologies from $190.00 to $200.00 and gave the company a “buy” rating in a report on Friday, May 9th.

Institutional Investors Weigh In On ESCO Technologies

Several hedge funds have recently made changes to their positions in ESE. Opal Wealth Advisors LLC acquired a new stake in ESCO Technologies in the first quarter valued at about $35,000. CX Institutional acquired a new position in ESCO Technologies during the first quarter worth about $36,000. TD Private Client Wealth LLC acquired a new position in shares of ESCO Technologies during the 1st quarter worth approximately $38,000. Harbor Investment Advisory LLC acquired a new position in shares of ESCO Technologies in the second quarter worth $38,000. Finally, Maseco LLP acquired a new position in shares of ESCO Technologies in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 95.70% of the company’s stock.

ESCO Technologies Price Performance

The company has a 50 day moving average of $189.35 and a 200 day moving average of $169.23. The company has a quick ratio of 1.33, a current ratio of 2.05 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 43.63 and a beta of 1.23.

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.