Stock Alert: ESCO Technologies Inc. (ESE) Shares Hit 52-Week High

(RTTNews) - Shares of ESCO Technologies Inc. (ESE) rallied over 5% hitting a 52-week high of $107.10 on Feb. 5, after the St. Louis, Missouri-based company reported upbeat Q1 earnings. The stock closed Wednesday's trading session at $103.96. Trading volume rose to 536K versus an average volume of 145K shares.

The company produces and supplies engineered products and systems for utility, industrial, aerospace, and commercial users worldwide. ESCO operates in four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG), and Technical Packaging.

The company's Q1 net income was $86.8 million or $3.32 per share, higher than the previous year's income of $17.3 million or $0.66 per share.

Net income from continuing operations was $10.8 million or $0.41 per share versus $17.4 million or $0.66 per share last year.

Adjusted earnings from continuing operations was $0.43 per share compared to $0.46 per share in the prior year period. Analysts polled by Thomson Reuters expected earnings of $0.39 per share for the quarter. Analysts' estimate typically exclude certain special items.

Net sales increased 5% to $172 million from $163 million generated a year ago.

Q2, FY 2020 Guidance

The company projects Q2 adjusted earnings in the range of $0.70 - $0.75 per share, compared to Q2 2019 adj. EPS from cont. ops. of $0.71 per share. Wall Street analysts expect earnings of $0.65 per share for the quarter.

ESCO continues to expect 2020 adjusted EPS to be in the range of $3.20 - $3.30 per share, compared to 2019 adj. EPS from cont. ops. Analysts look for earnings of $3.22 per share for fiscal 2020.