ESCO Technologies (NYSE:ESE) Releases Earnings Results, Beats Estimates By $0.03 EPS

ESCO Technologies (NYSE:ESE) issued its quarterly earnings data on Thursday. The scientific and technical instruments company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03, Bloomberg Earnings reports. The business had revenue of $199.80 million for the quarter, compared to analyst estimates of $210.60 million. ESCO Technologies had a return on equity of 10.96% and a net margin of 10.48%. ESCO Technologies’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. ESCO Technologies updated its FY19 guidance to $3.05-3.10 EPS.

Shares of ESE stock opened at $76.61 on Friday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 25.05 and a beta of 1.09. ESCO Technologies has a twelve month low of $59.00 and a twelve month high of $85.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.16 and a quick ratio of 1.54. The stock’s fifty day moving average price is $81.59.

Separately, Stephens started coverage on ESCO Technologies in a research report on Monday, July 8th. They set an “equal weight” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $70.50.

In related news, CFO Gary E. Muenster sold 2,593 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.00, for a total transaction of $191,882.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gary E. Muenster sold 3,903 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $72.90, for a total value of $284,528.70. Following the sale, the insider now owns 223,642 shares in the company, valued at approximately $16,303,501.80. The disclosure for this sale can be found here. Insiders have sold a total of 16,097 shares of company stock worth $1,172,865 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Conestoga Capital Advisors LLC grew its position in ESCO Technologies by 2.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,178,487 shares of the scientific and technical instruments company’s stock worth $97,367,000 after acquiring an additional 33,098 shares during the last quarter. William Blair Investment Management LLC grew its position in ESCO Technologies by 16.0% during the 1st quarter. William Blair Investment Management LLC now owns 417,689 shares of the scientific and technical instruments company’s stock worth $27,998,000 after acquiring an additional 57,742 shares during the last quarter. FMR LLC grew its position in ESCO Technologies by 176,918.9% during the 1st quarter. FMR LLC now owns 364,659 shares of the scientific and technical instruments company’s stock worth $24,443,000 after acquiring an additional 364,453 shares during the last quarter. Geode Capital Management LLC grew its position in ESCO Technologies by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 273,006 shares of the scientific and technical instruments company’s stock worth $18,004,000 after acquiring an additional 21,991 shares during the last quarter. Finally, Norges Bank bought a new stake in ESCO Technologies during the 4th quarter worth $14,748,000. Institutional investors and hedge funds own 93.91% of the company’s stock.

About ESCO Technologies

ESCO Technologies Inc produces and supplies engineered products and systems for utility, industrial, aerospace, and commercial users worldwide. The company operates in four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG), and Technical Packaging.

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Earnings History for ESCO Technologies (NYSE:ESE)

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