Exponent (NASDAQ:EXPO) shares hit a new 52-week high and low on Thursday after the company announced better than expected quarterly earnings. The company traded as low as $85.35 and last traded at $84.85, with a volume of 14677 shares traded. The stock had previously closed at $84.75.
The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.13. The firm had revenue of $96.50 million for the quarter, compared to the consensus estimate of $87.54 million. Exponent had a return on equity of 19.69% and a net margin of 12.52%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be paid a $0.26 dividend. The ex-dividend date is Thursday, June 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.21%. Exponent’s dividend payout ratio (DPR) is currently 48.60%.
EXPO has been the topic of a number of research reports. BidaskClub downgraded Exponent from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. SunTrust Banks upgraded Exponent from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Friday, January 26th. Zacks Investment Research upgraded Exponent from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Tuesday, January 23rd. ValuEngine upgraded Exponent from a “hold” rating to a “buy” rating in a research report on Tuesday, April 3rd. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $96.00 target price on shares of Exponent in a research report on Friday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $89.33.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its position in Exponent by 5.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,775 shares of the business services provider’s stock valued at $2,330,000 after purchasing an additional 1,836 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in Exponent during the fourth quarter valued at $881,000. Jane Street Group LLC purchased a new position in Exponent during the fourth quarter valued at $453,000. Crestline Management LP purchased a new position in Exponent during the fourth quarter valued at $1,979,000. Finally, Millennium Management LLC lifted its position in Exponent by 557.1% during the fourth quarter. Millennium Management LLC now owns 113,998 shares of the business services provider’s stock valued at $8,105,000 after purchasing an additional 96,650 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.
The stock has a market cap of $2,199.98, a price-to-earnings ratio of 40.12 and a beta of 0.62.
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Exponent Company Profile
Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company worldwide. Its services include analysis of product development, product recall, regulatory compliance, and the discovery of potential problems related to products, people, property, and impending litigation.
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