Electro Scientific Industries, Inc. (NASDAQ:ESIO) announced its quarterly earnings results on Monday. The semiconductor company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.12, Bloomberg Earnings reports. Electro Scientific Industries had a negative return on equity of 22.18% and a negative net margin of 18.49%. The firm had revenue of $70.97 million during the quarter, compared to analyst estimates of $65.53 million. During the same quarter in the previous year, the business earned ($0.24) EPS. Electro Scientific Industries’s revenue for the quarter was up 139.3% compared to the same quarter last year.
Several research firms recently issued reports on ESIO. Zacks Investment Research cut Electro Scientific Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Lake Street Capital reiterated a “buy” rating and issued a $14.50 price objective (up from $10.50) on shares of Electro Scientific Industries in a report on Monday, September 18th. BidaskClub upgraded Electro Scientific Industries from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. ValuEngine upgraded Electro Scientific Industries from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Needham & Company LLC upgraded Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $12.83.
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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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