ESCO Technologies (NYSE:ESE) Issues FY24 Earnings Guidance

ESCO Technologies (NYSE:ESE) 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.

ESCO Technologies Price Performance

Shares of ESE stock traded down $0.42 during trading on Wednesday, hitting $112.35. The company had a trading volume of 153,493 shares, compared to its average volume of 135,413. The stock’s 50-day moving average is $110.64 and its two-hundred day moving average is $106.10. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 29.45 and a beta of 1.10. The company has a quick ratio of 1.42, a current ratio of 2.15 and a debt-to-equity ratio of 0.15. ESCO Technologies has a 52 week low of $94.59 and a 52 week high of $125.54.

ESCO Technologies (NYSE:ESE) 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.