Brady Corporation (NYSE:BRC) Expected to Post Quarterly Sales of $279.98 Million
Analysts expect Brady Corporation (NYSE:BRC) to announce $279.98 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Brady Corporation’s earnings, with the highest sales estimate coming in at $283.00 million and the lowest estimate coming in at $274.50 million. Brady Corporation posted sales of $282.11 million during the same quarter last year, which suggests a negative year over year growth rate of 0.8%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, September 7th.
On average, analysts expect that Brady Corporation will report full-year sales of $279.98 million for the current financial year, with estimates ranging from $1.10 billion to $1.11 billion. For the next year, analysts anticipate that the business will report sales of $1.12 billion per share, with estimates ranging from $1.12 billion to $1.13 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Brady Corporation.
Brady Corporation (NYSE:BRC) last issued its earnings results on Thursday, May 25th. The industrial products company reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $275.90 million for the quarter, compared to the consensus estimate of $279.39 million. Brady Corporation had a net margin of 8.64% and a return on equity of 14.44%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share.
Several equities analysts have commented on BRC shares. Zacks Investment Research raised shares of Brady Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Tuesday, May 30th. BidaskClub cut shares of Brady Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Brady Corporation has an average rating of “Hold” and a consensus price target of $38.75.
Shares of Brady Corporation (BRC) opened at 31.95 on Friday. Brady Corporation has a one year low of $31.78 and a one year high of $40.50. The stock has a 50 day moving average of $33.43 and a 200 day moving average of $36.68. The stock has a market cap of $1.64 billion, a P/E ratio of 17.27 and a beta of 1.12.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 10th were given a dividend of $0.205 per share. The ex-dividend date was Thursday, July 6th. This represents a $0.82 annualized dividend and a dividend yield of 2.57%. Brady Corporation’s dividend payout ratio (DPR) is 44.32%.
Institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in Brady Corporation by 6.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 308,143 shares of the industrial products company’s stock valued at $11,910,000 after buying an additional 19,746 shares during the period. Frontier Capital Management Co. LLC raised its position in Brady Corporation by 3.1% in the first quarter. Frontier Capital Management Co. LLC now owns 456,572 shares of the industrial products company’s stock valued at $17,647,000 after buying an additional 13,580 shares during the period. Karp Capital Management Corp acquired a new position in Brady Corporation during the first quarter valued at $655,000. BlackRock Inc. raised its position in Brady Corporation by 84,523.4% in the first quarter. BlackRock Inc. now owns 5,658,766 shares of the industrial products company’s stock valued at $218,711,000 after buying an additional 5,652,079 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Brady Corporation by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 767,217 shares of the industrial products company’s stock valued at $29,652,000 after buying an additional 27,169 shares during the period. Institutional investors own 75.61% of the company’s stock.
About Brady Corporation
Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.
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