Brady Corp. (BRC) Updates FY17 Earnings Guidance
Brady Corp. (NYSE:BRC) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.55-1.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.70.
A number of brokerages have weighed in on BRC. Zacks Investment Research downgraded shares of Brady Corp. from a hold rating to a sell rating in a report on Monday, August 1st. Robert W. Baird upped their price target on shares of Brady Corp. from $30.00 to $34.00 and gave the company a neutral rating in a report on Monday, September 12th. Finally, SunTrust Banks Inc. raised shares of Brady Corp. from a reduce rating to a neutral rating and upped their price target for the company from $24.00 to $34.00 in a report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $48.60.
Shares of Brady Corp. (NYSE:BRC) opened at 37.25 on Wednesday. Brady Corp. has a 12-month low of $20.35 and a 12-month high of $37.40. The firm’s 50-day moving average price is $34.18 and its 200 day moving average price is $32.07. The firm has a market cap of $1.88 billion, a P/E ratio of 23.61 and a beta of 1.08.
Brady Corp. (NYSE:BRC) last announced its earnings results on Wednesday, November 16th. The company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. The company earned $280.20 million during the quarter, compared to analyst estimates of $277.87 million. During the same period last year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts expect that Brady Corp. will post $1.70 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 10th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.20%. Brady Corp.’s dividend payout ratio (DPR) is presently 51.90%.
In other news, VP Thomas J. Felmer sold 3,395 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $35.01, for a total value of $118,858.95. Following the completion of the sale, the vice president now directly owns 76,753 shares in the company, valued at $2,687,122.53. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas J. Felmer sold 13,431 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $35.21, for a total value of $472,905.51. Following the completion of the sale, the vice president now owns 74,927 shares of the company’s stock, valued at $2,638,179.67. The disclosure for this sale can be found here. 15.60% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Stevens Capital Management LP acquired a new stake in shares of Brady Corp. during the second quarter worth $480,000. WBI Investments Inc. purchased a new position in Brady Corp. during the second quarter valued at about $3,608,000. TIAA CREF Investment Management LLC boosted its position in Brady Corp. by 23.6% in the second quarter. TIAA CREF Investment Management LLC now owns 189,818 shares of the company’s stock valued at $5,801,000 after buying an additional 36,188 shares in the last quarter. Baird Financial Group Inc. boosted its position in Brady Corp. by 0.4% in the second quarter. Baird Financial Group Inc. now owns 27,585 shares of the company’s stock valued at $843,000 after buying an additional 100 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in Brady Corp. during the second quarter valued at about $535,000. Institutional investors own 76.38% of the company’s stock.
Brady Corp. Company Profile
Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products that are manufactured under various brands, including the Brady brand, and are primarily sold through distribution to a range of maintenance, repair and operations (MRO) and original equipment manufacturing (OEM) customers, and through other channels, including direct sales, catalog marketing and digital.
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