ESCO Technologies (NYSE:ESE – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 4.150-4.300 for the period, compared to the consensus estimate of 4.190. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. ESCO Technologies also updated its FY24 guidance to $4.15-4.30 EPS.
Analysts Set New Price Targets
Separately, StockNews.com cut ESCO Technologies from a buy rating to a hold rating in a research report on Saturday, February 17th.
View Our Latest Stock Analysis on ESCO Technologies
ESCO Technologies Price Performance
ESCO Technologies (NYSE:ESE – Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). ESCO Technologies had a return on equity of 8.59% and a net margin of 9.60%. The firm had revenue of $218.30 million for the quarter, compared to the consensus estimate of $221.44 million. During the same period last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that ESCO Technologies will post 4.2 EPS for the current year.
Insiders Place Their Bets
In other ESCO Technologies news, Director Leon J. Olivier sold 900 shares of ESCO Technologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $100.26, for a total transaction of $90,234.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% 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 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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