ESCO Technologies (NYSE:ESE) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

ESCO Technologies (NYSE:ESE) issued its quarterly earnings data on Thursday. The scientific and technical instruments company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.20 by $0.05, Briefing.com reports. The business had revenue of $272.65 million for the quarter, compared to the consensus estimate of $267.32 million. ESCO Technologies had a return on equity of 8.83% and a net margin of 9.74%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS.

ESCO Technologies Price Performance

NYSE:ESE opened at $104.84 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 1.92. The stock’s 50-day simple moving average is $102.49 and its 200 day simple moving average is $100.60. The company has a market cap of $2.70 billion, a P/E ratio of 29.74 and a beta of 1.10. ESCO Technologies has a 52-week low of $85.01 and a 52-week high of $109.57.

ESCO Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Thursday, January 4th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, January 3rd. ESCO Technologies’s dividend payout ratio is currently 9.07%.

Institutional Trading of ESCO Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in ESCO Technologies during the fourth quarter worth approximately $21,093,000. Vanguard Group Inc. increased its position in ESCO Technologies by 4.6% during the first quarter. Vanguard Group Inc. now owns 2,807,384 shares of the scientific and technical instruments company’s stock worth $196,292,000 after buying an additional 122,558 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in ESCO Technologies by 3.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,747,370 shares of the scientific and technical instruments company’s stock worth $187,838,000 after buying an additional 91,085 shares during the last quarter. State Street Corp increased its position in ESCO Technologies by 4.9% during the second quarter. State Street Corp now owns 988,280 shares of the scientific and technical instruments company’s stock worth $67,569,000 after buying an additional 45,985 shares during the last quarter. Finally, Invesco Ltd. increased its position in ESCO Technologies by 9.2% during the first quarter. Invesco Ltd. now owns 448,261 shares of the scientific and technical instruments company’s stock worth $31,343,000 after buying an additional 37,788 shares during the last quarter. Institutional investors and hedge funds own 93.45% of the company’s stock.

Analyst Upgrades and Downgrades

ESE has been the topic of a number of research reports. Stephens restated an “overweight” rating and issued a $120.00 price target on shares of ESCO Technologies in a report on Monday, August 28th. StockNews.com initiated coverage on ESCO Technologies in a report on Thursday, October 5th. They issued a “buy” rating on the stock.

ESCO Technologies Company Profile

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.