Brink’s Co. (BCO) Sees Strong Trading Volume After Dividend Announcement
Brink’s Co. (NYSE:BCO) saw strong trading volume on Tuesday after the company announced a dividend. 371,916 shares changed hands during mid-day trading, an increase of 26% from the previous session’s volume of 295,617 shares.The stock last traded at $36.90 and had previously closed at $36.87.
The newly announced dividend which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 14th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.08%. Brink’s’s payout ratio is presently 1,333.33%.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut Brink’s from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Imperial Capital raised Brink’s from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $31.50 to $38.00 in a report on Wednesday, August 3rd. Finally, Macquarie upped their target price on Brink’s from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, September 16th.
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The firm’s 50 day moving average is $36.48 and its 200 day moving average is $32.92. The company has a market capitalization of $1.83 billion, a P/E ratio of 1945.26 and a beta of 1.54.
Brink’s (NYSE:BCO) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The company earned $739.50 million during the quarter, compared to analyst estimates of $699.03 million. Brink’s had a return on equity of 22.23% and a net margin of 0.04%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. Equities analysts expect that Brink’s Co. will post $2.00 EPS for the current year.
In related news, insider Thomas Colan sold 935 shares of Brink’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $37.70, for a total transaction of $35,249.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Amit Zukerman sold 10,518 shares of Brink’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $36.69, for a total value of $385,905.42. The disclosure for this sale can be found here. Corporate insiders own 11.29% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in Brink’s by 81.2% in the first quarter. Renaissance Technologies LLC now owns 462,000 shares of the company’s stock valued at $15,519,000 after buying an additional 207,100 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in Brink’s by 9.4% in the first quarter. Kennedy Capital Management Inc. now owns 219,531 shares of the company’s stock valued at $7,374,000 after buying an additional 18,867 shares in the last quarter. HBK Investments L P raised its stake in Brink’s by 41.4% in the first quarter. HBK Investments L P now owns 41,700 shares of the company’s stock valued at $1,401,000 after buying an additional 12,200 shares in the last quarter. State Street Corp raised its stake in Brink’s by 2.0% in the first quarter. State Street Corp now owns 1,019,532 shares of the company’s stock valued at $34,245,000 after buying an additional 19,584 shares in the last quarter. Finally, BB&T Securities LLC raised its stake in Brink’s by 26.5% in the first quarter. BB&T Securities LLC now owns 9,731 shares of the company’s stock valued at $326,000 after buying an additional 2,040 shares in the last quarter. 93.06% of the stock is owned by institutional investors.
Brink’s Company Profile
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company’s solutions include cash-in-transit, automated teller machine (ATM) replenishment and maintenance, international transportation of valuables, cash management and payment services, to financial institutions, retailers, government agencies (including central banks), mints, jewelers and other commercial operations around the world.
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