Zacks: Analysts Anticipate Briggs & Stratton Co. (NYSE:BGG) Will Post Quarterly Sales of $454.23 Million
Equities analysts expect that Briggs & Stratton Co. (NYSE:BGG) will post $454.23 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Briggs & Stratton’s earnings. The lowest sales estimate is $453.00 million and the highest is $454.90 million. Briggs & Stratton posted sales of $505.46 million during the same quarter last year, which suggests a negative year-over-year growth rate of 10.1%. The business is expected to report its next earnings results on Wednesday, January 22nd.
On average, analysts expect that Briggs & Stratton will report full-year sales of $1.90 billion for the current year. For the next financial year, analysts forecast that the business will report sales of $1.96 billion, with estimates ranging from $1.96 billion to $1.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Briggs & Stratton.
Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.06. Briggs & Stratton had a negative net margin of 2.50% and a negative return on equity of 4.18%. The business had revenue of $313.70 million during the quarter, compared to analyst estimates of $291.14 million. During the same quarter in the previous year, the business posted ($0.51) earnings per share. The company’s revenue was up 12.4% on a year-over-year basis.
In related news, VP Jeffrey Michael Zeiler acquired 15,112 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $6.31 per share, for a total transaction of $95,356.72. Following the acquisition, the vice president now directly owns 90,195 shares in the company, valued at approximately $569,130.45. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BGG. Acadian Asset Management LLC purchased a new position in shares of Briggs & Stratton in the 2nd quarter worth $41,000. Bank of Montreal Can raised its holdings in shares of Briggs & Stratton by 68.0% in the 2nd quarter. Bank of Montreal Can now owns 8,223 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 3,329 shares during the period. Glen Harbor Capital Management LLC raised its holdings in shares of Briggs & Stratton by 14.4% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 10,268 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,292 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Briggs & Stratton by 53.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,427 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 3,996 shares in the last quarter. Finally, KLCM Advisors Inc. acquired a new position in shares of Briggs & Stratton in the 2nd quarter valued at about $168,000. 85.84% of the stock is owned by institutional investors.
BGG traded up $0.12 during trading on Thursday, hitting $5.24. The company’s stock had a trading volume of 938,819 shares, compared to its average volume of 531,284. Briggs & Stratton has a twelve month low of $3.96 and a twelve month high of $14.51. The firm’s 50 day moving average price is $6.54 and its 200-day moving average price is $7.57. The company has a current ratio of 2.28, a quick ratio of 0.72 and a debt-to-equity ratio of 1.58.
About Briggs & Stratton
Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.
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