Bruker Corporation to Post Q3 2017 Earnings of $0.26 Per Share, Jefferies Group Forecasts (BRKR)
Bruker Corporation (NASDAQ:BRKR) – Equities researchers at Jefferies Group dropped their Q3 2017 EPS estimates for Bruker Corporation in a note issued to investors on Friday. Jefferies Group analyst B. Couillard now forecasts that the medical research company will post earnings per share of $0.26 for the quarter, down from their previous estimate of $0.27. Jefferies Group has a “Buy” rating and a $29.00 price target on the stock. Jefferies Group also issued estimates for Bruker Corporation’s Q4 2017 earnings at $0.44 EPS, FY2017 earnings at $1.11 EPS, Q2 2018 earnings at $0.32 EPS, Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.38 EPS and FY2018 earnings at $1.32 EPS.
Bruker Corporation (NASDAQ:BRKR) last issued its earnings results on Thursday, August 3rd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The firm had revenue of $414.90 million for the quarter, compared to analyst estimates of $384.75 million. Bruker Corporation had a return on equity of 27.18% and a net margin of 9.65%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. TRADEMARK VIOLATION WARNING: “Bruker Corporation to Post Q3 2017 Earnings of $0.26 Per Share, Jefferies Group Forecasts (BRKR)” was reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/07/bruker-corporation-to-post-q3-2017-earnings-of-0-26-per-share-jefferies-group-forecasts-brkr.html.
BRKR has been the topic of a number of other reports. Cowen and Company raised their price target on Bruker Corporation from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Thursday, May 4th. Cleveland Research upgraded Bruker Corporation from a “neutral” rating to a “buy” rating in a research note on Thursday, April 27th. Deutsche Bank AG raised their price target on Bruker Corporation from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, May 15th. Barclays PLC restated an “equal weight” rating and issued a $30.00 price target (up from $26.00) on shares of Bruker Corporation in a research note on Monday, July 17th. Finally, Zacks Investment Research upgraded Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.
Shares of Bruker Corporation (NASDAQ BRKR) opened at 27.88 on Monday. Bruker Corporation has a 52 week low of $19.58 and a 52 week high of $30.22. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 29.60 and a beta of 1.10. The firm has a 50 day moving average price of $28.70 and a 200 day moving average price of $25.43.
Bruker Corporation announced that its board has approved a share buyback plan on Friday, May 12th that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, CEO Frank H. Laukien bought 73,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average cost of $26.22 per share, for a total transaction of $1,914,060.00. Following the completion of the transaction, the chief executive officer now owns 37,750,851 shares of the company’s stock, valued at $989,827,313.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Kniss sold 24,000 shares of Bruker Corporation stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $28.23, for a total value of $677,520.00. Following the transaction, the director now owns 46,753 shares in the company, valued at $1,319,837.19. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 78,120 shares of company stock worth $2,047,366 and have sold 117,624 shares worth $3,271,574. 35.20% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Boston Partners increased its position in Bruker Corporation by 12.9% in the first quarter. Boston Partners now owns 2,676,228 shares of the medical research company’s stock valued at $62,436,000 after buying an additional 305,167 shares during the period. Advisory Services Network LLC acquired a new stake in Bruker Corporation during the first quarter worth approximately $150,000. Canada Pension Plan Investment Board boosted its stake in Bruker Corporation by 648.9% in the first quarter. Canada Pension Plan Investment Board now owns 70,400 shares of the medical research company’s stock worth $1,642,000 after buying an additional 61,000 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Bruker Corporation by 7.0% in the first quarter. Wells Fargo & Company MN now owns 849,870 shares of the medical research company’s stock worth $19,826,000 after buying an additional 55,454 shares in the last quarter. Finally, First Quadrant L P CA boosted its stake in Bruker Corporation by 11.7% in the first quarter. First Quadrant L P CA now owns 713,478 shares of the medical research company’s stock worth $16,645,000 after buying an additional 74,807 shares in the last quarter. Institutional investors own 67.00% of the company’s stock.
Bruker Corporation Company Profile
Bruker Corporation designs and manufactures scientific instruments, and analytical and diagnostic solutions. Its segments include the Bruker BioSpin Group; the Bruker Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection (CALID) Group; the Bruker Nano Group, and the Bruker Energy & Supercon Technologies (BEST) Segment.
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