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

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

ESCO Technologies Stock Performance

Shares of ESCO Technologies stock traded up $1.30 during trading hours on Friday, reaching $104.84. The company had a trading volume of 132,001 shares, compared to its average volume of 89,150. ESCO Technologies has a one year low of $85.01 and a one year high of $109.57. The business has a fifty day simple moving average of $102.58 and a 200 day simple moving average of $100.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.92 and a quick ratio of 1.30. The firm has a market cap of $2.70 billion, a PE ratio of 29.70 and a beta of 1.10.

ESCO Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Thursday, January 4th will be issued 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 payout ratio is currently 9.07%.

Hedge Funds Weigh In On ESCO Technologies

A number of large investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. boosted its stake in ESCO Technologies by 45.6% during the first quarter. Advisor Group Holdings Inc. now owns 2,265 shares of the scientific and technical instruments company’s stock valued at $158,000 after buying an additional 709 shares during the period. Citigroup Inc. lifted its stake in ESCO Technologies by 19.6% during the first quarter. Citigroup Inc. now owns 24,387 shares of the scientific and technical instruments company’s stock worth $1,705,000 after purchasing an additional 4,005 shares during the last quarter. MetLife Investment Management LLC lifted its stake in ESCO Technologies by 54.4% during the first quarter. MetLife Investment Management LLC now owns 13,675 shares of the scientific and technical instruments company’s stock worth $956,000 after purchasing an additional 4,820 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of ESCO Technologies by 1.0% in the first quarter. Rhumbline Advisers now owns 74,783 shares of the scientific and technical instruments company’s stock worth $5,229,000 after buying an additional 728 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of ESCO Technologies by 13.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,408 shares of the scientific and technical instruments company’s stock worth $1,567,000 after buying an additional 2,711 shares during the period. 93.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

About ESCO Technologies

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.