Brink’s (NYSE:BCO) Issues FY24 Earnings Guidance

Brink’s (NYSE:BCO) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $7.30-8.00 for the period, compared to the consensus EPS estimate of $7.63. The company issued revenue guidance of $5.075-5.225 billion, compared to the consensus revenue estimate of $5.15 billion. Brink’s also updated its FY 2024 guidance to 7.300-8.000 EPS.

Wall Street Analysts Forecast Growth

Several research firms have commented on BCO. The Goldman Sachs Group increased their price target on shares of Brink’s from $98.00 to $103.00 and gave the company a buy rating in a research report on Friday, March 1st. TheStreet lowered shares of Brink’s from a b rating to a c+ rating in a research report on Wednesday, March 13th. Finally, Truist Financial increased their price target on shares of Brink’s from $90.00 to $110.00 and gave the company a buy rating in a research report on Wednesday, February 28th.

Brink’s Stock Performance

Shares of Brink’s stock traded up $1.61 during midday trading on Wednesday, hitting $92.60. The company had a trading volume of 257,078 shares, compared to its average volume of 210,166. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 51.71 and a beta of 1.39. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 6.27. The company has a fifty day simple moving average of $87.28 and a 200 day simple moving average of $82.68. Brink’s has a 12-month low of $62.13 and a 12-month high of $98.31.

Brink’s (NYSE:BCO) last issued its quarterly earnings results on Thursday, February 29th. The business services provider reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.27. Brink’s had a net margin of 1.77% and a return on equity of 55.36%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company earned $2.10 EPS. Brink’s’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts predict that Brink’s will post 7.51 earnings per share for the current fiscal year.

Brink’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a $0.243 dividend. This represents a $0.97 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, May 10th. This is an increase from Brink’s’s previous quarterly dividend of $0.22. Brink’s’s dividend payout ratio is 53.30%.

Insider Buying and Selling

In related news, Director Keith R. Wyche sold 400 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.37, for a total value of $32,948.00. Following the transaction, the director now owns 665 shares in the company, valued at approximately $54,776.05. The sale was disclosed in a filing with the SEC, which is available through this link. 0.49% of the stock is owned by corporate insiders.

Brink’s Company Profile

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.