ESCO Technologies (NYSE:ESE) Issues FY24 Earnings Guidance

ESCO Technologies (NYSE:ESE) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.10-4.30 for the period, compared to the consensus estimate of $4.21. The company issued revenue guidance of $1.02-1.04 billion, compared to the consensus revenue estimate of $1.01 billion. ESCO Technologies also updated its FY 2024 guidance to $4.10-$4.30 EPS.

ESCO Technologies Price Performance

Shares of ESE opened at $103.54 on Friday. 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 market capitalization of $2.67 billion, a price-to-earnings ratio of 29.33 and a beta of 1.10. The stock’s fifty day moving average is $102.49 and its 200-day moving average is $100.60. ESCO Technologies has a one year low of $85.01 and a one year high of $109.57.

ESCO Technologies (NYSE:ESE) last issued its earnings results on Thursday, November 16th. 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. ESCO Technologies had a return on equity of 8.83% and a net margin of 9.74%. The company had revenue of $272.65 million for the quarter, compared to the consensus estimate of $267.32 million. During the same quarter in the prior year, the company earned $1.21 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts anticipate that ESCO Technologies will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ESE. Stephens reissued an overweight rating and issued a $120.00 price target on shares of ESCO Technologies in a report on Monday, August 28th. StockNews.com initiated coverage on ESCO Technologies in a report on Thursday, October 5th. They set a buy rating on the stock.

Institutional Trading of ESCO Technologies

Several large investors have recently added to or reduced their stakes in ESE. Advisor Group Holdings Inc. boosted its stake 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 worth $158,000 after purchasing an additional 709 shares during the period. Citigroup Inc. boosted its stake in shares of 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 valued at $1,705,000 after purchasing an additional 4,005 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of ESCO Technologies by 54.4% in 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 acquiring an additional 4,820 shares during the period. Rhumbline Advisers lifted its stake in 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 valued at $5,229,000 after buying an additional 728 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in ESCO Technologies by 13.8% in 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 valued at $1,567,000 after purchasing an additional 2,711 shares during the period. 93.45% of the stock is owned by institutional investors.

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.