ESCO Technologies (NYSE:ESE) Releases FY24 Earnings Guidance

ESCO Technologies (NYSE:ESE) 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 FY 2024 guidance to 4.150-4.300 EPS.

Analyst Ratings Changes

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

ESCO Technologies Stock Down 5.8 %

Shares of NYSE ESE traded down $6.45 during mid-day trading on Friday, hitting $105.00. 239,991 shares of the stock traded hands, compared to its average volume of 156,181. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 27.56 and a beta of 1.14. The stock has a fifty day moving average price of $102.99 and a 200-day moving average price of $104.14. ESCO Technologies has a 52 week low of $89.77 and a 52 week high of $118.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.31 and a current ratio of 1.98.

ESCO Technologies (NYSE:ESE) last released its earnings results on Thursday, May 9th. The scientific and technical instruments company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The firm had revenue of $249.10 million for the quarter, compared to the consensus estimate of $241.15 million. ESCO Technologies had a net margin of 9.94% and a return on equity of 8.90%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. Research analysts anticipate that ESCO Technologies will post 4.2 EPS for the current year.

ESCO Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Wednesday, July 3rd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, July 3rd. ESCO Technologies’s dividend payout ratio is presently 8.40%.

Insider Activity at ESCO Technologies

In related news, Director Leon J. Olivier sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by insiders.

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.