ESCO Technologies (NYSE:ESE – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.10-4.20 for the period, compared to the consensus earnings per share estimate of $4.24. The company issued revenue guidance of $1.02-1.03 billion, compared to the consensus revenue estimate of $1.03 billion. ESCO Technologies also updated its FY 2024 guidance to 4.100-4.200 EPS.
Analyst Upgrades and Downgrades
Separately, Stephens restated an overweight rating and set a $125.00 target price on shares of ESCO Technologies in a research report on Tuesday, July 9th.
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ESCO Technologies Price Performance
ESCO Technologies (NYSE:ESE – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The scientific and technical instruments company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $249.10 million during the quarter, compared to analysts’ expectations of $241.15 million. ESCO Technologies had a net margin of 9.94% and a return on equity of 8.83%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. As a group, analysts predict that ESCO Technologies will post 4.22 EPS for the current fiscal year.
ESCO Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Wednesday, July 3rd were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. ESCO Technologies’s payout ratio is 8.40%.
ESCO Technologies Company Profile
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.
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