Electro Scientific Industries Price Target Cut to $14.00 (ESIO)
Equities researchers at DA Davidson decreased their price target on shares of Electro Scientific Industries (NASDAQ:ESIO) from $16.00 to $14.00 in a research report issued on Friday, AR Network reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 40.00% from the stock’s previous close.
Shares of Electro Scientific Industries (NASDAQ:ESIO) opened at 10.00 on Friday. Electro Scientific Industries has a 1-year low of $9.28 and a 1-year high of $13.17. The stock’s 50-day moving average is $11.67 and its 200-day moving average is $11.32. The company’s market cap is $299.2 million.
Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.03. The company had revenue of $59.60 million for the quarter, compared to the consensus estimate of $58.70 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was down 25.7% on a year-over-year basis. On average, analysts predict that Electro Scientific Industries will post $0.45 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ESIO. Analysts at Noble Financial downgraded shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note to investors on Friday. Analysts at Needham & Company downgraded shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $14.00 price target on the stock.
Electro Scientific Industries, Inc (NASDAQ:ESIO) is a supplier of laser-based manufacturing solutions for the microtechnology industry.
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