Electro Scientific Industries, Inc. (ESIO) Announces Quarterly Earnings Results
Electro Scientific Industries, Inc. (NASDAQ:ESIO) announced its earnings results on Wednesday. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.12, Bloomberg Earnings reports. The business had revenue of $70.97 million for the quarter, compared to analysts’ expectations of $65.53 million. Electro Scientific Industries had a negative return on equity of 13.50% and a negative net margin of 9.00%. The business’s revenue for the quarter was up 139.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.24) EPS. Electro Scientific Industries updated its Q3 guidance to $0.48 to $0.60 EPS.
Several analysts have issued reports on ESIO shares. BidaskClub raised Electro Scientific Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Needham & Company LLC raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, August 3rd. Lake Street Capital dropped their target price on Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. ValuEngine raised Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday, August 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $21.50.
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Electro Scientific Industries Company Profile
Electro Scientific Industries, Inc and its subsidiaries supply laser-based manufacturing solutions for industries reliant on microtechnologies. The Company operates through two segments: Component Processing and Micromachining. The Component Processing segment includes interconnect products, semiconductor products and component products.
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