ESCO Technologies (NYSE:ESE – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.15-4.30 for the period, compared to the consensus earnings per share estimate of $4.23. The company issued revenue guidance of $1.02-1.04 billion, compared to the consensus revenue estimate of $1.03 billion. ESCO Technologies also updated its Q3 guidance to $1.16-1.22 EPS.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of ESCO Technologies from a buy rating to a hold rating in a research note on Saturday, February 17th.
View Our Latest Stock Report on ESE
ESCO Technologies Trading Up 1.8 %
ESCO Technologies (NYSE:ESE – Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). ESCO Technologies had a net margin of 9.60% and a return on equity of 8.59%. The business had revenue of $218.30 million during the quarter, compared to analyst estimates of $221.44 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts forecast that ESCO Technologies will post 4.2 EPS for the current fiscal year.
Insider Activity at ESCO Technologies
In other ESCO Technologies news, Director Leon J. Olivier sold 900 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $100.26, for a total value of $90,234.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is owned by corporate insiders.
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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