Exponent (NASDAQ:EXPO) Hits New 12-Month High on Better-Than-Expected Earnings

Exponent, Inc. (NASDAQ:EXPO) shares reached a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $102.52 and last traded at $101.87, with a volume of 235195 shares. The stock had previously closed at $79.68.

The business services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.46 by $0.13. Exponent had a return on equity of 28.50% and a net margin of 18.72%. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $125.98 million. During the same period in the previous year, the firm posted $0.56 EPS. Exponent’s revenue for the quarter was up 6.6% on a year-over-year basis.

Exponent Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.12 annualized dividend and a yield of 1.18%. Exponent’s payout ratio is 56.57%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com raised Exponent from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Truist Financial lowered their target price on Exponent from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, February 2nd.

Insiders Place Their Bets

In other Exponent news, insider Eric Guyer sold 3,367 shares of Exponent stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $78.49, for a total transaction of $264,275.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Trading of Exponent

A number of institutional investors have recently bought and sold shares of the business. Conestoga Capital Advisors LLC lifted its holdings in shares of Exponent by 9.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,687,351 shares of the business services provider’s stock valued at $222,217,000 after purchasing an additional 236,050 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Exponent in the 1st quarter valued at about $75,000. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Exponent by 16.0% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 5,714 shares of the business services provider’s stock valued at $473,000 after purchasing an additional 789 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Exponent by 0.7% in the 1st quarter. New York State Teachers Retirement System now owns 41,081 shares of the business services provider’s stock valued at $3,397,000 after purchasing an additional 300 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Exponent by 2.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the business services provider’s stock valued at $1,207,000 after purchasing an additional 400 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Exponent Trading Up 19.5 %

The firm has a market capitalization of $4.82 billion, a PE ratio of 48.09 and a beta of 0.68. The company has a fifty day moving average price of $79.93 and a two-hundred day moving average price of $81.88.

About Exponent

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.