Electro Scientific Industries Inc. (ESIO) Given Consensus Rating of “Buy” by Analysts
Shares of Electro Scientific Industries Inc. (NASDAQ:ESIO) have earned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Electro Scientific Industries’ rating score has declined by 33.3% in the last 90 days as a result of a number of analysts’ ratings changes.
Analysts have set a 1 year consensus price objective of $9.50 for the company and are predicting that the company will post ($0.27) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Electro Scientific Industries an industry rank of 84 out of 265 based on the ratings given to its competitors.
Several research firms have recently commented on ESIO. Zacks Investment Research upgraded shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Needham & Company LLC cut shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd.
Electro Scientific Industries (NASDAQ:ESIO) opened at 5.42 on Tuesday. Electro Scientific Industries has a 52-week low of $4.36 and a 52-week high of $7.56. The company’s 50-day moving average is $5.69 and its 200-day moving average is $6.32. The firm’s market capitalization is $171.74 million.
Electro Scientific Industries (NASDAQ:ESIO) last released its earnings results on Tuesday, August 2nd. The company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.04. Electro Scientific Industries had a negative net margin of 3.18% and a negative return on equity of 0.53%. The company earned $47.70 million during the quarter, compared to analysts’ expectations of $50.75 million. During the same quarter last year, the business earned ($0.14) EPS. The business’s revenue was up 10.7% on a year-over-year basis. Equities analysts predict that Electro Scientific Industries will post ($0.11) earnings per share for the current year.
In other news, Director Raymond A. Link acquired 10,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were bought at an average price of $5.17 per share, for a total transaction of $51,700.00. Following the completion of the purchase, the director now directly owns 43,000 shares of the company’s stock, valued at approximately $222,310. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.42% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Spark Investment Management LLC purchased a new stake in Electro Scientific Industries during the second quarter worth about $107,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Electro Scientific Industries during the second quarter worth about $110,000. American International Group Inc. raised its stake 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 stake 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 stake in shares of Electro Scientific Industries by 1.2% in the first quarter. Royal Bank of Canada now owns 26,094 shares of the company’s stock worth $187,000 after buying an additional 308 shares during the period. Institutional investors own 69.90% of the company’s stock.
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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