ESCO Technologies (NYSE:ESE) Updates Q3 Earnings Guidance

ESCO Technologies (NYSE:ESE) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $1.16-1.22 for the period, compared to the consensus EPS estimate of $1.26. ESCO Technologies also updated its FY24 guidance to $4.15-4.30 EPS.

ESCO Technologies Stock Up 1.8 %

ESE traded up $2.01 on Thursday, reaching $111.45. The company’s stock had a trading volume of 130,861 shares, compared to its average volume of 134,219. ESCO Technologies has a 1 year low of $89.77 and a 1 year high of $118.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.98 and a quick ratio of 1.31. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 30.96 and a beta of 1.14. The business’s 50 day moving average is $102.72 and its 200 day moving average is $104.00.

ESCO Technologies (NYSE:ESE) last posted its quarterly earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). ESCO Technologies had a return on equity of 8.59% and a net margin of 9.60%. The firm had revenue of $218.30 million during the quarter, compared to analyst estimates of $221.44 million. During the same quarter last year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research analysts forecast that ESCO Technologies will post 4.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered ESCO Technologies from a buy rating to a hold rating in a report on Saturday, February 17th.

Insider Activity

In other news, Director Leon J. Olivier sold 900 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $100.26, for a total transaction of $90,234.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.80% of the stock is owned by corporate insiders.

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.