Brady (NYSE:BRC) Releases FY 2022 Earnings Guidance

Brady (NYSE:BRCGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.08-$3.17 for the period, compared to the consensus estimate of $3.05. The company issued revenue guidance of -.Brady also updated its FY22 guidance to $3.08-3.17 EPS.

Shares of BRC stock traded up $1.29 during mid-day trading on Friday, reaching $49.62. 172 shares of the stock traded hands, compared to its average volume of 264,699. The stock’s fifty day simple moving average is $45.66 and its two-hundred day simple moving average is $48.96. Brady has a 1-year low of $41.69 and a 1-year high of $61.76. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. The company has a quick ratio of 1.46, a current ratio of 2.20 and a debt-to-equity ratio of 0.09.

Brady (NYSE:BRCGet Rating) last issued its quarterly earnings results on Thursday, May 26th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $338.60 million for the quarter, compared to analyst estimates of $333.91 million. Brady had a return on equity of 15.49% and a net margin of 10.81%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, equities research analysts anticipate that Brady will post 3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 8th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.81%. Brady’s dividend payout ratio (DPR) is 35.16%.

Several equities analysts have recently commented on BRC shares. Zacks Investment Research upgraded Brady from a sell rating to a hold rating in a research report on Tuesday, April 26th. Wells Fargo & Company cut Brady from an overweight rating to an equal weight rating and lowered their price objective for the company from $60.00 to $52.00 in a research note on Friday, February 18th. Finally, StockNews.com raised Brady from a hold rating to a buy rating in a report on Friday, March 25th.

In related news, VP Russell Shaller bought 10,000 shares of the stock in a transaction on Tuesday, March 15th. The stock was bought at an average price of $43.50 per share, for a total transaction of $435,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its stake in Brady by 14.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock valued at $103,000 after buying an additional 281 shares in the last quarter. Point72 Hong Kong Ltd lifted its stake in Brady by 740.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,814 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 2,479 shares in the last quarter. Captrust Financial Advisors lifted its stake in Brady by 55.8% in the 1st quarter. Captrust Financial Advisors now owns 3,372 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 1,208 shares in the last quarter. Jane Street Group LLC purchased a new position in Brady in the 3rd quarter worth approximately $230,000. Finally, Royal Bank of Canada lifted its stake in Brady by 9.2% in the 3rd quarter. Royal Bank of Canada now owns 4,562 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 386 shares in the last quarter. 78.70% of the stock is currently owned by institutional investors.

About Brady (Get Rating)

Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials, printing systems, RFID and bar code scanners for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.

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