Electro Scientific Industries Inc. (NASDAQ:ESIO) has been assigned an average broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a 12 month consensus price objective of $9.00 for the company and are predicting that the company will post ($0.32) earnings per share for the current quarter, according to Zacks. Zacks has also given Electro Scientific Industries an industry rank of 100 out of 265 based on the ratings given to its competitors.
A number of research firms have commented on ESIO. Needham & Company LLC lowered Electro Scientific Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Finally, TheStreet lowered Electro Scientific Industries from a “hold” rating to a “sell” rating in a research report on Friday, November 4th.
In other Electro Scientific Industries news, insider Michael D. Burger bought 84,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were bought at an average price of $4.71 per share, for a total transaction of $395,640.00. Following the transaction, the insider now directly owns 313,445 shares in the company, valued at $1,476,325.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.42% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Hartford Investment Management Co. acquired a new stake in shares of Electro Scientific Industries during the third quarter valued at approximately $100,000. Spark Investment Management LLC acquired a new stake in shares of Electro Scientific Industries during the second quarter valued at approximately $107,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Electro Scientific Industries during the second quarter valued at approximately $110,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Electro Scientific Industries during the third quarter valued at approximately $116,000. Finally, American International Group Inc. raised its stake in shares of Electro Scientific Industries by 3.0% in the third quarter. American International Group Inc. now owns 21,114 shares of the company’s stock valued at $119,000 after buying an additional 616 shares during the last quarter. Institutional investors own 68.97% of the company’s stock.
Shares of Electro Scientific Industries (NASDAQ:ESIO) opened at 5.47 on Tuesday. The stock’s 50 day moving average price is $5.23 and its 200-day moving average price is $5.89. The firm’s market cap is $177.58 million. Electro Scientific Industries has a 52-week low of $4.50 and a 52-week high of $7.56.
Electro Scientific Industries (NASDAQ:ESIO) last released its quarterly earnings results on Tuesday, November 1st. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.02. Electro Scientific Industries had a negative net margin of 7.22% and a negative return on equity of 4.33%. The company earned $29.70 million during the quarter, compared to the consensus estimate of $33 million. During the same quarter last year, the firm posted ($0.03) EPS. The company’s quarterly revenue was down 36.1% on a year-over-year basis. On average, analysts forecast that Electro Scientific Industries will post ($0.59) EPS for the current year.
About Electro Scientific Industries
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.