Zacks Investment Research downgraded shares of ESCO Technologies (NYSE:ESE) from a hold rating to a sell rating in a report published on Wednesday.
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, “
ESE has been the subject of several other research reports. Needham & Company LLC upgraded ESCO Technologies from a hold rating to a buy rating in a research note on Tuesday, November 21st. B. Riley set a $71.00 target price on ESCO Technologies and gave the company a buy rating in a research note on Wednesday, November 15th. Finally, Stephens set a $65.00 target price on ESCO Technologies and gave the company an equal weight rating in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $68.75.
Shares of ESCO Technologies (NYSE:ESE) traded up $0.70 during trading hours on Wednesday, reaching $61.10. The company had a trading volume of 83,100 shares, compared to its average volume of 89,100. ESCO Technologies has a 1 year low of $50.30 and a 1 year high of $65.95. The company has a market cap of $1,560.49, a P/E ratio of 29.52 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.38 and a current ratio of 2.01.
ESCO Technologies (NYSE:ESE) last announced its earnings results on Tuesday, November 14th. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. ESCO Technologies had a return on equity of 8.64% and a net margin of 7.83%. The firm had revenue of $207.01 million during the quarter, compared to the consensus estimate of $211.02 million. During the same quarter in the prior year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. research analysts predict that ESCO Technologies will post 2.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Thursday, January 4th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $0.32 annualized dividend and a yield of 0.52%. ESCO Technologies’s payout ratio is 15.46%.
A number of large investors have recently made changes to their positions in ESE. Janus Henderson Group PLC acquired a new position in ESCO Technologies in the 2nd quarter valued at approximately $44,484,000. Conestoga Capital Advisors LLC raised its holdings in ESCO Technologies by 58.0% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 736,105 shares of the scientific and technical instruments company’s stock valued at $44,129,000 after acquiring an additional 270,326 shares in the last quarter. Macquarie Group Ltd. raised its holdings in ESCO Technologies by 14.5% in the 2nd quarter. Macquarie Group Ltd. now owns 761,656 shares of the scientific and technical instruments company’s stock valued at $45,433,000 after acquiring an additional 96,182 shares in the last quarter. Brown Advisory Inc. raised its holdings in ESCO Technologies by 10.2% in the 3rd quarter. Brown Advisory Inc. now owns 906,249 shares of the scientific and technical instruments company’s stock valued at $54,329,000 after acquiring an additional 83,818 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in ESCO Technologies by 11.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 366,375 shares of the scientific and technical instruments company’s stock valued at $21,964,000 after acquiring an additional 39,101 shares in the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.
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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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