FY2018 EPS Estimates for Brady Corp (BRC) Increased by SunTrust Banks
Brady Corp (NYSE:BRC) – Equities researchers at SunTrust Banks upped their FY2018 EPS estimates for Brady in a research report issued on Tuesday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings per share of $2.12 for the year, up from their previous forecast of $1.90. SunTrust Banks has a “Hold” rating and a $39.00 price objective on the stock. SunTrust Banks also issued estimates for Brady’s FY2019 earnings at $2.24 EPS.
Several other brokerages have also commented on BRC. Zacks Investment Research upgraded Brady from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Wednesday, November 8th. Bank of America upgraded Brady from an “underperform” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, January 2nd. Finally, Robert W. Baird restated a “hold” rating and set a $36.00 target price on shares of Brady in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $41.00.
Brady (NYSE:BRC) last announced its earnings results on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Brady had a return on equity of 13.90% and a net margin of 8.81%. The company had revenue of $290.15 million for the quarter, compared to analyst estimates of $286.75 million. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be issued a $0.2075 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.83 annualized dividend and a yield of 2.13%. Brady’s payout ratio is currently 44.15%.
In other Brady news, Director Bradley C. Richardson sold 1,400 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $39.15, for a total value of $54,810.00. Following the transaction, the director now owns 2,511 shares in the company, valued at $98,305.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas J. Felmer sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total value of $390,000.00. Following the completion of the transaction, the vice president now owns 78,474 shares in the company, valued at approximately $3,060,486. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,029 shares of company stock worth $706,748. Corporate insiders own 15.60% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Eaton Vance Management boosted its holdings in Brady by 0.3% in the second quarter. Eaton Vance Management now owns 11,521 shares of the industrial products company’s stock worth $391,000 after acquiring an additional 32 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Brady by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,814 shares of the industrial products company’s stock worth $1,485,000 after acquiring an additional 138 shares in the last quarter. Amalgamated Bank boosted its holdings in Brady by 5.0% in the second 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. The Manufacturers Life Insurance Company boosted its holdings in Brady by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 35,785 shares of the industrial products company’s stock worth $1,214,000 after acquiring an additional 456 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its holdings in Brady by 7.2% in the second quarter. Suntrust Banks Inc. now owns 8,504 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 571 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.
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Brady 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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