Brady Corp. (BRC) Issues Quarterly Earnings Results
Brady Corp. (NYSE:BRC) announced its quarterly earnings data on Wednesday. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm earned $280.20 million during the quarter, compared to analysts’ expectations of $277.87 million. Brady Corp. had a return on equity of 13.73% and a net margin of 7.15%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. Brady Corp. updated its FY17 guidance to $1.55-1.70 EPS.
Brady Corp. (NYSE:BRC) opened at 36.65 on Thursday. The company has a 50 day moving average price of $34.36 and a 200 day moving average price of $32.32. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 23.23 and a beta of 1.08. Brady Corp. has a 12 month low of $20.35 and a 12 month high of $38.20.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, January 10th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.24%. Brady Corp.’s dividend payout ratio is presently 51.90%.
In related news, VP Bentley Curran sold 6,378 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $34.71, for a total value of $221,380.38. Following the sale, the vice president now directly owns 36,459 shares of the company’s stock, valued at $1,265,491.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas J. Felmer sold 13,431 shares of the firm’s stock in a transaction dated 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 directly owns 74,927 shares in the company, valued at $2,638,179.67. The disclosure for this sale can be found here. 15.60% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. acquired a new stake in Brady Corp. during the third quarter valued at $1,213,000. Verition Fund Management LLC purchased a new stake in shares of Brady Corp. during the third quarter worth approximately $226,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Brady Corp. during the third quarter worth approximately $471,000. Jane Street Group LLC purchased a new stake in shares of Brady Corp. during the third quarter worth approximately $321,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Brady Corp. during the third quarter worth approximately $254,000. 76.38% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on BRC shares. Zacks Investment Research cut Brady Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 20th. SunTrust Banks Inc. raised 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 research note on Tuesday, September 13th. Finally, Robert W. Baird upped their price target on Brady Corp. from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Brady Corp. currently has a consensus rating of “Hold” and a consensus target price of $48.60.
About Brady Corp.
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.
Receive News & Stock Ratings for Brady Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brady Corp. and related stocks with our FREE daily email newsletter.