Zacks Investment Research downgraded shares of ESCO Technologies Inc. (NYSE:ESE) from a buy rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Nexus Energy Software, a subsidiary of ESCO Technologies Inc., enables the vision of what energy information can accomplish for the twenty first Century Utility by transforming both energy company and customer views of energy. Nexus’ leading, proven-at-scale solutions support customer interactions via self-service and the contact center, while enhancing operating functions with analytic applications that integrate meter, customer, and asset data. Nexus’ ENERGYprism, Energy Vision and Nexus MDMS product lines are in use at over eighty five energy companies worldwide, supporting millions of interactions and transactions each year, “
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of ESCO Technologies from a strong-buy rating to a buy rating in a report on Monday, July 31st. Wunderlich started coverage on shares of ESCO Technologies in a report on Tuesday, June 13th. They set a buy rating and a $71.00 target price on the stock. Finally, FBR & Co reiterated an outperform rating on shares of ESCO Technologies in a report on Tuesday, July 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $67.00.
ESCO Technologies (ESE) opened at 61.00 on Tuesday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 30.81 and a beta of 1.04. ESCO Technologies has a one year low of $42.95 and a one year high of $63.80. The company’s 50-day moving average is $57.61 and its 200 day moving average is $58.22.
ESCO Technologies (NYSE:ESE) last released its earnings results on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. The company had revenue of $172.00 million for the quarter, compared to analyst estimates of $172.00 million. ESCO Technologies had a net margin of 8.06% and a return on equity of 8.36%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. Equities analysts expect that ESCO Technologies will post $2.08 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd will be issued a $0.08 dividend. The ex-dividend date is Monday, October 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. ESCO Technologies’s payout ratio is 16.16%.
Institutional investors and hedge funds have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its holdings in shares of ESCO Technologies by 3,191.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,909 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 1,851 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of ESCO Technologies by 7.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,116 shares of the scientific and technical instruments company’s stock valued at $123,000 after purchasing an additional 152 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of ESCO Technologies in the 1st quarter valued at $128,000. Royal Bank of Canada raised its holdings in shares of ESCO Technologies by 332.1% in the 2nd quarter. Royal Bank of Canada now owns 3,098 shares of the scientific and technical instruments company’s stock valued at $184,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of ESCO Technologies in the 1st quarter valued at $200,000. Institutional investors and hedge funds own 94.10% of the company’s stock.
About ESCO Technologies
ESCO Technologies Inc (ESCO) is a producer of engineered products and systems sold to customers for utility, industrial, aerospace and commercial applications. The Company operates through four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.
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