ESCO Technologies (NYSE:ESE – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.15-4.30 for the period, compared to the consensus earnings per share estimate of $4.23. The company issued revenue guidance of $1.02-1.04 billion, compared to the consensus revenue estimate of $1.03 billion. ESCO Technologies also updated its Q3 guidance to $1.16-1.22 EPS.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of ESCO Technologies from a buy rating to a hold rating in a report on Saturday, February 17th.
ESCO Technologies Price Performance
ESCO Technologies (NYSE:ESE – Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $218.30 million for the quarter, compared to analysts’ expectations of $221.44 million. ESCO Technologies had a net margin of 9.60% and a return on equity of 8.59%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. As a group, equities analysts anticipate that ESCO Technologies will post 4.2 earnings per share for the current fiscal year.
Insider Activity at ESCO Technologies
In other ESCO Technologies news, Director Leon J. Olivier sold 900 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $100.26, for a total value of $90,234.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.80% of the company’s stock.
About ESCO Technologies
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.
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