Electro Scientific Industries (ESIO) Releases Quarterly Earnings, Beats Estimates By $0.03 EPS
Electro Scientific Industries (NASDAQ:ESIO) released its earnings data on Thursday. The company reported ($0.24) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.27) by $0.03, American Banking and Market News reports. The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $32.33 million. During the same quarter last year, the company posted $0.01 earnings per share. Electro Scientific Industries’s revenue was down 24.2% compared to the same quarter last year. Electro Scientific Industries updated its Q2 guidance to ($0.22)-($0.17) EPS.
Shares of Electro Scientific Industries (NASDAQ:ESIO) traded down 1.97% during mid-day trading on Thursday, hitting $5.98. The stock had a trading volume of 285,363 shares. Electro Scientific Industries has a 52-week low of $6.00 and a 52-week high of $12.33. The stock’s 50-day moving average is $6.64 and its 200-day moving average is $8.50. The company’s market cap is $180.5 million.
ESIO has been the subject of a number of recent research reports. Analysts at TheStreet downgraded shares of Electro Scientific Industries from a “buy” rating to a “sell” rating in a research note on Thursday, May 15th. On the ratings front, analysts at DA Davidson cut their price target on shares of Electro Scientific Industries from $13.00 to $10.00 in a research note on Wednesday, May 14th. They now have a “buy” rating on the stock. Finally, analysts at Imperial Capital reiterated a “buy” rating on shares of Electro Scientific Industries in a research note on Wednesday, May 14th. They now have a $10.00 price target on the stock, down previously from $13.00. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.75.
Electro Scientific Industries, Inc (NASDAQ:ESIO) is a supplier of laser-based manufacturing solutions for the microtechnology industry.
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