Analysts Expect Bruker Corporation (BRKR) Will Announce Quarterly Sales of $414.24 Million
Brokerages expect Bruker Corporation (NASDAQ:BRKR) to report $414.24 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Bruker Corporation’s earnings, with estimates ranging from $402.00 million to $420.50 million. Bruker Corporation posted sales of $393.90 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.2%. The business is expected to announce its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Bruker Corporation will report full year sales of $414.24 million for the current fiscal year, with estimates ranging from $1.68 billion to $1.77 billion. For the next year, analysts forecast that the firm will report sales of $1.76 billion per share, with estimates ranging from $1.70 billion to $1.80 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Bruker Corporation.
Bruker Corporation (NASDAQ:BRKR) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Bruker Corporation had a net margin of 9.65% and a return on equity of 26.66%. The firm had revenue of $414.90 million during the quarter, compared to analyst estimates of $384.75 million. During the same quarter last year, the business earned $0.20 EPS. The company’s revenue was up 11.6% compared to the same quarter last year.
Several analysts have issued reports on the company. BidaskClub lowered Bruker Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Barclays PLC reiterated an “equal weight” rating and issued a $30.00 price objective (up previously from $26.00) on shares of Bruker Corporation in a research report on Monday, July 17th. Cowen and Company reiterated a “hold” rating and issued a $29.00 price objective on shares of Bruker Corporation in a research report on Friday, July 14th. Wells Fargo & Company downgraded Bruker Corporation from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $27.00.
Bruker Corporation (NASDAQ BRKR) opened at 27.90 on Tuesday. Bruker Corporation has a 12-month low of $19.58 and a 12-month high of $30.22. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 27.82 and a beta of 1.10. The firm’s 50-day moving average is $28.55 and its 200 day moving average is $25.74.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid a $0.04 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.16 annualized dividend and a yield of 0.57%. Bruker Corporation’s payout ratio is 16.00%.
Bruker Corporation announced that its Board of Directors has authorized a stock buyback program on Friday, May 12th that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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In other news, CEO Frank H. Laukien purchased 3,200 shares of Bruker Corporation stock in a transaction that occurred on Friday, May 19th. The shares were bought at an average cost of $26.13 per share, with a total value of $83,616.00. Following the completion of the purchase, the chief executive officer now directly owns 37,789,051 shares in the company, valued at $987,427,902.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank H. Laukien purchased 73,000 shares of Bruker Corporation stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average cost of $26.22 per share, for a total transaction of $1,914,060.00. Following the completion of the purchase, the chief executive officer now owns 37,750,851 shares of the company’s stock, valued at $989,827,313.22. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 78,535 shares of company stock worth $2,061,632 and sold 117,624 shares worth $3,271,574. 35.20% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Bruker Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,832,452 shares of the medical research company’s stock valued at $229,391,000 after buying an additional 277,111 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Bruker Corporation by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 524,525 shares of the medical research company’s stock worth $12,238,000 after buying an additional 24,115 shares in the last quarter. 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. Highbridge Capital Management LLC bought a new stake in Bruker Corporation during the first quarter worth approximately $6,030,000. Finally, Parametrica Management Ltd bought a new stake in Bruker Corporation during the first quarter worth approximately $309,000. 66.44% of the stock is currently owned by institutional investors.
About Bruker Corporation
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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