Brady Corp. Downgraded to “Underperform” at BMO Capital Markets (BRC)
Brady Corp. (NYSE:BRC) was downgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a report issued on Monday, TheFlyOnTheWall.com reports.
Brady Corp. (NYSE:BRC) opened at 30.72 on Monday. Brady Corp. has a 1-year low of $29.11 and a 1-year high of $36.45. The stock has a 50-day moving average of $33.50 and a 200-day moving average of $32.97. The company’s market cap is $1.596 billion.
Brady Corp. (NYSE:BRC) last released its earnings data on Thursday, September 12th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Brady Corp. will post $1.85 EPS for the current fiscal year.
BRC has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Brady Corp. (NYSE:BRC) from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday. They now have a $29.60 price target on the stock. Separately, analysts at TheStreet downgraded shares of Brady Corp. (NYSE:BRC) to a “hold” rating in a research note to investors on Monday, September 16th. Finally, 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, September 13th. They now have a $33.00 price target on the stock, down previously from $41.00.
Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.30.
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 2.54%. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.