Q1 2018 EPS Estimates for Brady Corporation Lowered by Northcoast Research (BRC)
Brady Corporation (NYSE:BRC) – Analysts at Northcoast Research reduced their Q1 2018 EPS estimates for Brady Corporation in a research note issued to investors on Friday. Northcoast Research analyst K. Housum now anticipates that the industrial products company will post earnings of $0.48 per share for the quarter, down from their prior forecast of $0.51. Northcoast Research also issued estimates for Brady Corporation’s Q2 2018 earnings at $0.43 EPS and FY2019 earnings at $2.14 EPS.
Brady Corporation (NYSE:BRC) last posted its quarterly earnings results on Thursday, September 7th. The industrial products company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $289.20 million for the quarter, compared to analysts’ expectations of $280.47 million. Brady Corporation had a return on equity of 13.93% and a net margin of 8.59%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share.
Several other brokerages also recently weighed in on BRC. BidaskClub cut shares of Brady Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Robert W. Baird set a $36.00 target price on shares of Brady Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. Zacks Investment Research raised shares of Brady Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, May 30th. Finally, Bank of America Corporation increased their target price on shares of Brady Corporation from $33.00 to $34.00 and gave the stock an “underperform” rating in a report on Friday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $38.20.
Brady Corporation (NYSE:BRC) opened at 36.40 on Monday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 19.68 and a beta of 1.11. Brady Corporation has a 12 month low of $31.70 and a 12 month high of $40.50. The stock’s 50 day moving average price is $33.07 and its 200-day moving average price is $36.11.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, October 6th. This represents a $3.32 annualized dividend and a dividend yield of 9.17%. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. Brady Corporation’s dividend payout ratio is currently 44.57%.
A number of institutional investors and hedge funds have recently made changes to their positions in BRC. BlackRock Inc. boosted its position in shares of Brady Corporation by 84,523.4% during the 1st quarter. BlackRock Inc. now owns 5,658,766 shares of the industrial products company’s stock valued at $218,711,000 after purchasing an additional 5,652,079 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Brady Corporation by 14.3% during the 1st quarter. Vanguard Group Inc. now owns 5,320,613 shares of the industrial products company’s stock valued at $205,641,000 after purchasing an additional 666,642 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Brady Corporation by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock valued at $123,045,000 after purchasing an additional 345,775 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Brady Corporation by 35.5% during the 2nd quarter. Wells Fargo & Company MN now owns 956,471 shares of the industrial products company’s stock valued at $32,425,000 after purchasing an additional 250,713 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Brady Corporation by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock valued at $55,904,000 after purchasing an additional 192,000 shares in the last quarter. Hedge funds and other institutional investors own 76.57% of the company’s stock.
About Brady Corporation
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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