Briggs & Stratton Corp. Trading 5.4% Higher After Dividend Announcement (BGG)
Briggs & Stratton Corp. (NYSE:BGG) traded up 5.4% on Thursday after the company announced a dividend, AnalystRatings.NET reports. The stock traded as high as $20.03 and last traded at $20.03, with a volume of 550,368 shares traded. The stock had previously closed at $19.01.
The newly announced dividend is scheduled for Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.63%.
Separately, analysts at Zacks downgraded shares of Briggs & Stratton Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday, July 24th. They now have a $18.10 price target on the stock.
The stock has a 50-day moving average of $19.36 and a 200-day moving average of $20.93. The company’s market cap is $938.2 million.
Briggs & Stratton Corp. (NYSE:BGG) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.31 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.36 by $0.05. The company had revenue of $496.80 million for the quarter, compared to the consensus estimate of $495.93 million. Analysts expect that Briggs & Stratton Corp. will post $0.86 EPS for the current fiscal year.
Briggs & Stratton Corporation (NYSE:BGG) is a producer of air cooled gasoline engines for outdoor power equipment.
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