Oppenheimer Reiterates an 'Outperform' on ESCO Technologies (ESE); Outlook Intact Despite Project Timing Issue
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Price: $305.86 +1.68%
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer reiterates an 'Outperform' on ESCO Technologies (NYSE: ESE) price target of $44.00.
Analyst, Jim Giannakouros, said, "ESE reported F3Q EPS of $0.51, below our consensus-matching estimate of $0.63. Continued strength in Filtration was more than offset by lower than expected sales in USG and Test. Backlog growth of 26% YTD and book:bill of 1.15x maintain our confidence in ESE's intermediate-term outlook. However, lumpiness and cost overruns in the Test business and softer than expected sales in RF Water (timing) temper our outlook somewhat for '13. With SoCal orders up to $83M contract-to-date, a growing pipeline within AMI, and continued strength in Filtration, drive our 35%+ y/y EPS growth assumption for 2013." (FY12 EPS estimate lowered from $2.10 to $1.90 and FY13 from $2.75 to $2.60)
For an analyst ratings summary and ratings history on ESCO Technologies click here. For more ratings news on ESCO Technologies click here.
Shares of ESCO Technologies closed at $36.44 yesterday.
Analyst, Jim Giannakouros, said, "ESE reported F3Q EPS of $0.51, below our consensus-matching estimate of $0.63. Continued strength in Filtration was more than offset by lower than expected sales in USG and Test. Backlog growth of 26% YTD and book:bill of 1.15x maintain our confidence in ESE's intermediate-term outlook. However, lumpiness and cost overruns in the Test business and softer than expected sales in RF Water (timing) temper our outlook somewhat for '13. With SoCal orders up to $83M contract-to-date, a growing pipeline within AMI, and continued strength in Filtration, drive our 35%+ y/y EPS growth assumption for 2013." (FY12 EPS estimate lowered from $2.10 to $1.90 and FY13 from $2.75 to $2.60)
For an analyst ratings summary and ratings history on ESCO Technologies click here. For more ratings news on ESCO Technologies click here.
Shares of ESCO Technologies closed at $36.44 yesterday.
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