Brady Corp (BRC) Expected to Post Quarterly Sales of $277.38 Million

Brokerages expect Brady Corp (NYSE:BRC) to report $277.38 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Brady’s earnings, with estimates ranging from $276.60 million to $278.20 million. Brady posted sales of $268.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.5%. The company is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Brady will report full-year sales of $277.38 million for the current fiscal year, with estimates ranging from $1.14 billion to $1.15 billion. For the next year, analysts expect that the firm will post sales of $1.19 billion per share, with estimates ranging from $1.18 billion to $1.20 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Brady.

Brady (NYSE:BRC) last released its earnings results 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 firm had revenue of $290.15 million during the quarter, compared to analysts’ expectations of $286.75 million. Brady had a return on equity of 13.90% and a net margin of 8.81%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS.

Several brokerages have recently weighed in on BRC. SunTrust Banks restated a “hold” rating and issued a $38.00 price objective on shares of Brady in a report on Friday, October 27th. Bank of America raised their price objective on Brady from $34.00 to $35.00 and gave the company an “underperform” rating in a report on Friday, November 17th. Robert W. Baird restated a “hold” rating and issued a $36.00 price objective on shares of Brady in a report on Friday, October 13th. Finally, Zacks Investment Research cut Brady from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $41.00.

In related news, VP Thomas J. Felmer sold 2,649 shares of Brady stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $39.52, for a total transaction of $104,688.48. Following the completion of the transaction, the vice president now owns 57,668 shares in the company, valued at $2,279,039.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bradley C. Richardson sold 1,400 shares of Brady stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $39.15, for a total value of $54,810.00. Following the transaction, the director now owns 2,511 shares of the company’s stock, valued at approximately $98,305.65. The disclosure for this sale can be found here. Insiders sold a total of 18,029 shares of company stock valued at $706,748 in the last 90 days. 15.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Brady by 1.3% during the second quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock worth $194,270,000 after purchasing an additional 71,895 shares during the period. Vanguard Group Inc. grew its holdings in Brady by 3.0% during the second quarter. Vanguard Group Inc. now owns 5,480,546 shares of the industrial products company’s stock worth $185,791,000 after purchasing an additional 159,933 shares during the period. JPMorgan Chase & Co. grew its holdings in Brady by 3.9% during the third quarter. JPMorgan Chase & Co. now owns 3,770,218 shares of the industrial products company’s stock worth $143,457,000 after purchasing an additional 140,585 shares during the period. Dimensional Fund Advisors LP grew its holdings in Brady by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,753,034 shares of the industrial products company’s stock worth $66,528,000 after purchasing an additional 38,340 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Brady by 13.2% during the second quarter. Renaissance Technologies LLC now owns 1,649,100 shares of the industrial products company’s stock worth $55,904,000 after purchasing an additional 192,000 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Brady (NYSE:BRC) opened at $39.30 on Friday. The stock has a market capitalization of $1,982.41, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.66 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.62 and a current ratio of 2.19. Brady has a 1-year low of $31.70 and a 1-year high of $40.50.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, January 9th. Brady’s payout ratio is 43.92%.

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Brady Company Profile

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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Earnings History and Estimates for Brady (NYSE:BRC)

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