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Electro Scientific Industries Inc. (NASDAQ:ESIO) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of ($0.30)-($0.25) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.08), American Banking and Market News reports. The company issued revenue guidance of $30-$35 million, compared to the consensus revenue estimate of $38.91 million.

On a related note, analysts at Davidson cut their price target on shares of Electro Scientific Industries from $14.00 to $13.00 in a research note on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Electro Scientific Industries currently has a consensus rating of Hold and an average price target of $13.38.

Shares of Electro Scientific Industries Inc. (NASDAQ:ESIO) traded down 1.82% on Tuesday, hitting $8.07. The stock had a trading volume of 99,708 shares. Electro Scientific Industries Inc. has a one year low of $7.85 and a one year high of $12.80. The stock has a 50-day moving average of $9.20 and a 200-day moving average of $9.8. The company’s market cap is $241.4 million.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.16) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.17) by $0.01. The company had revenue of $37.10 million for the quarter, compared to the consensus estimate of $37.00 million. During the same quarter last year, the company posted ($0.03) earnings per share. Electro Scientific Industries’s revenue was down 6.3% compared to the same quarter last year. Analysts expect that Electro Scientific Industries Inc. will post $-0.17 EPS for the current fiscal year.

Electro Scientific Industries, Inc (NASDAQ:ESIO) is a supplier of laser-based manufacturing solutions for the microtechnology industry.

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