Brady Corp. Price Target Cut to $31.00 by Analysts at BMO Capital Markets (BRC)
Research analysts at BMO Capital Markets cut their price objective on shares of Brady Corp. (NYSE:BRC) from $35.00 to $31.00 in a report released on Friday, StockRatingsNetwork reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 1.57% from the stock’s previous close.
Shares of Brady Corp. (NYSE:BRC) traded up 2.26% during mid-day trading on Friday, hitting $31.21. 509,821 shares of the company’s stock traded hands. Brady Corp. has a one year low of $29.11 and a one year high of $36.45. The stock’s 50-day moving average is $33.9 and its 200-day moving average is $33.10. The company has a market cap of $1.613 billion and a price-to-earnings ratio of 45.62.
Brady Corp. (NYSE:BRC) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.51 by $0.02. The company had revenue of $309.10 million for the quarter, compared to the consensus estimate of $307.13 million. During the same quarter last year, the company posted $0.47 earnings per share. Brady Corp.’s revenue was up 14.9% compared to the same quarter last year. On average, analysts predict that Brady Corp. will post $2.21 earnings per share for the current fiscal year.
BRC has been the subject of a number of other recent research reports. Analysts at Robert W. Baird downgraded shares of Brady Corp. (NYSE:BRC) from an “outperform” rating to a “neutral” rating in a research note to investors on Friday. They now have a $33.00 price target on the stock, down previously from $41.00. Finally, analysts at Zacks upgraded shares of Brady Corp. (NYSE:BRC) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 21st. They now have a $35.70 price target on the stock.
One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $32.43.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.20 per share. This represents a $0.78 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, October 8th. This is a positive change from Brady Corp.’s previous quarterly dividend of $0.19.
Brady Corporation (NYSE:BRC) is an international manufacturer of identification solutions and specialty materials that identify and protect premises, products and people.
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