Analysts Expect Briggs & Stratton Corporation (BGG) Will Post Earnings of -$0.42 Per Share
Equities analysts expect Briggs & Stratton Corporation (NYSE:BGG) to announce ($0.42) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Briggs & Stratton Corporation’s earnings, with estimates ranging from ($0.50) to ($0.36). Briggs & Stratton Corporation reported earnings of ($0.34) per share in the same quarter last year, which would indicate a negative year over year growth rate of 23.5%. The firm is expected to announce its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Briggs & Stratton Corporation will report full year earnings of $1.35 per share for the current fiscal year, with EPS estimates ranging from $1.32 to $1.38. For the next year, analysts forecast that the company will post earnings of $1.57 per share, with EPS estimates ranging from $1.52 to $1.60. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Briggs & Stratton Corporation.
Briggs & Stratton Corporation (NYSE:BGG) last released its quarterly earnings results on Wednesday, August 16th. The industrial products company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.06. Briggs & Stratton Corporation had a net margin of 3.17% and a return on equity of 11.24%. The company had revenue of $474 million for the quarter, compared to analysts’ expectations of $537.82 million. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis.
A number of equities analysts have weighed in on BGG shares. Zacks Investment Research raised Briggs & Stratton Corporation from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Friday, August 11th. BidaskClub raised Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th.
Briggs & Stratton Corporation (NYSE BGG) traded up 0.09% during mid-day trading on Friday, reaching $21.54. The company had a trading volume of 200,602 shares. The stock has a 50 day moving average of $22.34 and a 200 day moving average of $22.97. Briggs & Stratton Corporation has a 52 week low of $17.90 and a 52 week high of $25.92. The stock has a market capitalization of $906.02 million, a price-to-earnings ratio of 16.44 and a beta of 0.72.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, September 14th. Briggs & Stratton Corporation’s dividend payout ratio (DPR) is presently 43.08%.
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In other news, insider Todd J. Teske sold 5,830 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $20.68, for a total value of $120,564.40. Following the transaction, the insider now owns 379,417 shares of the company’s stock, valued at approximately $7,846,343.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William H. Reitman sold 7,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $20.69, for a total value of $144,830.00. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in shares of Briggs & Stratton Corporation by 4.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,230 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 293 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Briggs & Stratton Corporation in the 2nd quarter valued at $223,000. Westover Capital Advisors LLC acquired a new position in shares of Briggs & Stratton Corporation in the 2nd quarter valued at $474,000. State Street Corp lifted its stake in shares of Briggs & Stratton Corporation by 4.7% in the 2nd quarter. State Street Corp now owns 1,189,916 shares of the industrial products company’s stock valued at $28,674,000 after purchasing an additional 53,505 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new position in shares of Briggs & Stratton Corporation in the 2nd quarter valued at $474,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.
About Briggs & Stratton Corporation
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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