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

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

ESCO Technologies Stock Performance

Shares of ESE stock opened at $104.97 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $102.49 and a 200 day moving average price of $100.60. The company has a market cap of $2.71 billion, a P/E ratio of 29.74 and a beta of 1.10. ESCO Technologies has a 12 month low of $85.01 and a 12 month high of $109.57.

ESCO Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Thursday, January 4th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. ESCO Technologies’s payout ratio is currently 9.07%.

Analysts Set New Price Targets

Several research firms recently weighed in on ESE. StockNews.com began coverage on shares of ESCO Technologies in a report on Thursday, October 5th. They issued a “buy” rating for the company. Stephens reiterated an “overweight” rating and issued a $120.00 target price on shares of ESCO Technologies in a report on Monday, August 28th.

Hedge Funds Weigh In On ESCO Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Middle East FZE purchased a new stake in ESCO Technologies in the fourth quarter valued at $45,000. Lazard Asset Management LLC purchased a new stake in ESCO Technologies in the third quarter valued at $56,000. Altshuler Shaham Ltd purchased a new stake in ESCO Technologies in the fourth quarter valued at $51,000. State of Wyoming lifted its position in ESCO Technologies by 25.6% in the second quarter. State of Wyoming now owns 917 shares of the scientific and technical instruments company’s stock valued at $95,000 after acquiring an additional 187 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in ESCO Technologies by 53.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,129 shares of the scientific and technical instruments company’s stock valued at $98,000 after acquiring an additional 392 shares during the last quarter. Institutional investors and hedge funds own 93.45% of the company’s 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.