Brokerages Anticipate Electro Scientific Industries Inc. (ESIO) to Post ($0.27) Earnings Per Share
Electro Scientific Industries Inc. (NASDAQ:ESIO) has been given a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Electro Scientific Industries’ rating score has declined by 33.3% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus price target of $9.50 for the company and are predicting that the company will post ($0.27) EPS for the current quarter, according to Zacks. Zacks has also given Electro Scientific Industries an industry rank of 88 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently weighed in on ESIO shares. Zacks Investment Research upgraded Electro Scientific Industries from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. Needham & Company LLC lowered Electro Scientific Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd.
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In other Electro Scientific Industries news, Director Raymond A. Link purchased 10,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was bought at an average cost of $5.17 per share, for a total transaction of $51,700.00. Following the completion of the acquisition, the director now directly owns 43,000 shares in the company, valued at $222,310. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.42% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Spark Investment Management LLC acquired a new position in shares of Electro Scientific Industries during the second quarter worth approximately $107,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Electro Scientific Industries during the second quarter worth approximately $110,000. American International Group Inc. raised its position in shares of Electro Scientific Industries by 338.8% in the second quarter. American International Group Inc. now owns 20,498 shares of the company’s stock worth $120,000 after buying an additional 15,827 shares during the period. Baird Financial Group Inc. raised its position in shares of Electro Scientific Industries by 2.2% in the second quarter. Baird Financial Group Inc. now owns 23,274 shares of the company’s stock worth $142,000 after buying an additional 500 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Electro Scientific Industries by 3.3% in the second quarter. Royal Bank of Canada now owns 26,953 shares of the company’s stock worth $157,000 after buying an additional 859 shares during the period. Institutional investors own 69.90% of the company’s stock.
Electro Scientific Industries (NASDAQ:ESIO) traded down 2.0474% during trading on Tuesday, reaching $5.5735. 10,373 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $5.70 and its 200-day moving average price is $6.34. Electro Scientific Industries has a 52-week low of $4.36 and a 52-week high of $7.56. The company’s market capitalization is $176.61 million.
Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The business earned $47.70 million during the quarter, compared to analysts’ expectations of $50.75 million. Electro Scientific Industries had a negative return on equity of 0.53% and a negative net margin of 3.18%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) EPS. Equities analysts expect that Electro Scientific Industries will post ($0.11) earnings per share for the current year.
About Electro Scientific Industries
Electro Scientific Industries, Inc is a supplier of laser-based manufacturing solutions for the micro technology industry. The Company operates in two segments, Component Processing and Micromachining. Its Component Processing segment includes interconnect products, semiconductor products and component products.
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