ESCO Technologies (NYSE:ESE) Announces Earnings Results

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

ESCO Technologies Stock Performance

Shares of ESE opened at $103.54 on Friday. ESCO Technologies has a 1 year low of $85.01 and a 1 year high of $109.57. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 29.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 1.92. The firm has a fifty day moving average of $102.49 and a 200-day moving average of $100.60.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On ESCO Technologies

Several institutional investors have recently bought and sold shares of ESE. Advisor Group Holdings Inc. lifted its holdings in ESCO Technologies by 45.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,265 shares of the scientific and technical instruments company’s stock valued at $158,000 after acquiring an additional 709 shares during the last quarter. Citigroup Inc. raised its holdings in ESCO Technologies by 19.6% during the 1st quarter. Citigroup Inc. now owns 24,387 shares of the scientific and technical instruments company’s stock worth $1,705,000 after buying an additional 4,005 shares during the period. MetLife Investment Management LLC raised its holdings in ESCO Technologies by 54.4% during the 1st quarter. MetLife Investment Management LLC now owns 13,675 shares of the scientific and technical instruments company’s stock worth $956,000 after buying an additional 4,820 shares during the period. Rhumbline Advisers raised its holdings in ESCO Technologies by 1.0% during the 1st 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 raised its holdings in ESCO Technologies by 13.8% during the 1st 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. Institutional investors and hedge funds own 93.45% 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 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.