Briggs & Stratton Corporation (BGG) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS
Briggs & Stratton Corporation (NYSE:BGG) announced its earnings results on Wednesday. The industrial products company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.06, RTT News reports. Briggs & Stratton Corporation had a return on equity of 11.69% and a net margin of 2.33%. During the same quarter last year, the firm posted $0.46 EPS.
Shares of Briggs & Stratton Corporation (BGG) traded up 1.22% during mid-day trading on Wednesday, reaching $24.09. 250,120 shares of the company’s stock were exchanged. Briggs & Stratton Corporation has a 52-week low of $17.90 and a 52-week high of $25.92. The company has a market cap of $1.03 billion, a PE ratio of 24.63 and a beta of 0.69. The company’s 50-day moving average price is $23.78 and its 200 day moving average price is $23.05.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.32%. Briggs & Stratton Corporation’s dividend payout ratio is currently 58.33%.
Several brokerages recently commented on BGG. Zacks Investment Research upgraded shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Friday, August 11th. BidaskClub upgraded shares of Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Briggs & Stratton Corporation presently has an average rating of “Hold” and a consensus target price of $24.33.
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Briggs & Stratton Corporation Company Profile
Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.
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