Exponent, Inc. (EXPO) Hits New 12-Month High Following Better-Than-Expected Earnings
Exponent, Inc. (NASDAQ:EXPO)’s share price reached a new 52-week high on Wednesday following a better than expected earnings announcement. The stock traded as high as $66.25 and last traded at $66.30, with a volume of 286,625 shares traded. The stock had previously closed at $58.75.
The business services provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.10. Exponent had a return on equity of 16.74% and a net margin of 15.94%. The company had revenue of $84.10 million for the quarter, compared to the consensus estimate of $79.30 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 1.27%. Exponent’s dividend payout ratio is presently 43.52%.
EXPO has been the topic of several research analyst reports. Zacks Investment Research downgraded Exponent from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub downgraded Exponent from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $69.00 price objective (up previously from $64.00) on shares of Exponent in a report on Saturday, April 22nd. Finally, ValuEngine upgraded Exponent from a “sell” rating to a “hold” rating in a report on Thursday.
Several large investors have recently bought and sold shares of EXPO. Thrivent Financial for Lutherans increased its stake in Exponent by 5.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,870 shares of the business services provider’s stock valued at $836,000 after buying an additional 670 shares in the last quarter. Nationwide Fund Advisors increased its stake in Exponent by 4.8% in the first quarter. Nationwide Fund Advisors now owns 159,560 shares of the business services provider’s stock valued at $9,502,000 after buying an additional 7,296 shares in the last quarter. Bank of Montreal Can increased its stake in Exponent by 21.8% in the first quarter. Bank of Montreal Can now owns 3,209 shares of the business services provider’s stock valued at $192,000 after buying an additional 575 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Exponent by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the business services provider’s stock valued at $619,000 after buying an additional 100 shares in the last quarter. Finally, State Street Corp increased its stake in Exponent by 8.1% in the fourth quarter. State Street Corp now owns 573,433 shares of the business services provider’s stock valued at $34,578,000 after buying an additional 43,132 shares in the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.
The stock has a market cap of $1.71 billion, a PE ratio of 36.69 and a beta of 0.60. The stock’s 50 day moving average is $59.23 and its 200-day moving average is $59.06.
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Exponent Company Profile
Exponent, Inc (Exponent), along with its subsidiaries, is a science and engineering consulting company. Exponent provides engineering and scientific consulting services to clients around the world. Its service offerings are provided on a project-by-project basis. It operates in two segments: Engineering and Other Scientific, and Environmental and Health.
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