Brady Corporation (BRC) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Brady Corporation (NYSE:BRC) announced its quarterly earnings results on Thursday. The industrial products company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02, MarketWatch Earnings reports. Brady Corporation had a return on equity of 14.44% and a net margin of 8.64%. The business had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. During the same quarter in the previous year, the firm earned $0.49 EPS. Brady Corporation’s quarterly revenue was up 2.5% on a year-over-year basis. Brady Corporation updated its FY18 guidance to $1.85-1.95 EPS.
Brady Corporation (NYSE BRC) opened at 33.15 on Thursday. Brady Corporation has a 1-year low of $31.70 and a 1-year high of $40.50. The firm has a market capitalization of $1.70 billion, a PE ratio of 17.92 and a beta of 1.11. The firm has a 50-day moving average price of $33.00 and a 200-day moving average price of $36.19.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 10th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 10.02%. This is a boost from Brady Corporation’s previous quarterly dividend of $0.21. Brady Corporation’s payout ratio is presently 44.32%.
Several hedge funds have recently bought and sold shares of BRC. Riverhead Capital Management LLC raised its position in shares of Brady Corporation by 62.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 1,195 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Brady Corporation in the 2nd quarter worth about $118,000. Ameritas Investment Partners Inc. bought a new position in shares of Brady Corporation in the 1st quarter worth about $153,000. State of Alaska Department of Revenue raised its position in shares of Brady Corporation by 2.3% in the 1st quarter. State of Alaska Department of Revenue now owns 5,260 shares of the industrial products company’s stock worth $203,000 after acquiring an additional 120 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Brady Corporation by 5.0% in the 2nd quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 305 shares in the last quarter. 76.57% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on BRC shares. Zacks Investment Research upgraded Brady Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday, May 30th. BidaskClub downgraded Brady Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Finally, Robert W. Baird set a $36.00 price objective on Brady Corporation and gave the company a “hold” rating in a report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Brady Corporation presently has an average rating of “Hold” and a consensus price target of $39.25.
Brady Corporation 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, and the WPS segment includes workplace safety and compliance products.
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