FY2018 EPS Estimates for Brady Corp (BRC) Boosted by Analyst
Brady Corp (NYSE:BRC) – Stock analysts at SunTrust Banks upped their FY2018 earnings estimates for shares of Brady in a research report issued on Tuesday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will earn $2.12 per share for the year, up from their previous forecast of $1.90. SunTrust Banks currently has a “Hold” rating and a $39.00 target price on the stock. SunTrust Banks also issued estimates for Brady’s FY2019 earnings at $2.24 EPS.
Other equities analysts have also recently issued reports about the stock. Robert W. Baird restated a “hold” rating and issued a $36.00 price target on shares of Brady in a research report on Friday, October 13th. Zacks Investment Research cut shares of Brady from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Bank of America upped their price target on shares of Brady from $34.00 to $35.00 and gave the company an “underperform” rating in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $41.00.
Brady (NYSE:BRC) last released its quarterly earnings data on Thursday, November 16th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The business had revenue of $290.15 million during the quarter, compared to analysts’ expectations of $286.75 million. Brady had a net margin of 8.81% and a return on equity of 13.90%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS.
Institutional investors and hedge funds have recently bought and sold shares of the company. Riverhead Capital Management LLC increased its position in shares of Brady by 62.9% during the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after buying an additional 1,195 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Brady during the second quarter worth $118,000. Hartford Investment Management Co. acquired a new stake in shares of Brady during the third quarter worth $204,000. Amalgamated Bank increased its position in shares of Brady by 5.0% during the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock worth $217,000 after buying an additional 305 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in shares of Brady by 54.8% during the second quarter. Cubist Systematic Strategies LLC now owns 7,316 shares of the industrial products company’s stock worth $248,000 after buying an additional 2,591 shares during the period. Institutional investors own 76.84% of the company’s stock.
In other Brady news, VP Thomas J. Felmer sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $390,000.00. Following the completion of the transaction, the vice president now directly owns 78,474 shares in the company, valued at approximately $3,060,486. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bradley C. Richardson sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $39.15, for a total transaction of $54,810.00. Following the completion of the transaction, the director now owns 2,511 shares of the company’s stock, valued at $98,305.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,029 shares of company stock valued at $706,748. Corporate insiders own 15.60% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be given a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 2.16%. The ex-dividend date is Tuesday, January 9th. Brady’s dividend payout ratio (DPR) is currently 44.15%.
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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