Wall Street brokerages predict that Briggs & Stratton Co. (NYSE:BGG) will announce $615.23 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Briggs & Stratton’s earnings. The highest sales estimate is $663.00 million and the lowest is $574.80 million. Briggs & Stratton reported sales of $604.07 million during the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The company is expected to issue its next quarterly earnings results on Wednesday, April 24th.
On average, analysts expect that Briggs & Stratton will report full-year sales of $1.93 billion for the current financial year, with estimates ranging from $1.90 billion to $1.95 billion. For the next financial year, analysts expect that the business will report sales of $2.01 billion, with estimates ranging from $1.95 billion to $2.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Briggs & Stratton.
Briggs & Stratton (NYSE:BGG) last released its quarterly earnings results on Wednesday, January 23rd. The industrial products company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). The firm had revenue of $505.50 million for the quarter, compared to analysts’ expectations of $461.71 million. Briggs & Stratton had a negative net margin of 1.24% and a positive return on equity of 8.12%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share.
Several research firms have commented on BGG. Zacks Investment Research lowered shares of Briggs & Stratton from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Robert W. Baird set a $14.00 price target on shares of Briggs & Stratton and gave the company a “hold” rating in a research report on Friday, January 25th. ValuEngine lowered shares of Briggs & Stratton from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 24th. Finally, Sidoti decreased their price objective on shares of Briggs & Stratton from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, December 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Briggs & Stratton presently has a consensus rating of “Hold” and an average target price of $17.50.
In related news, Director Frank M. Jaehnert acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The stock was purchased at an average cost of $12.04 per share, with a total value of $120,400.00. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $301,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its position in Briggs & Stratton by 41.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 40,448 shares of the industrial products company’s stock worth $529,000 after buying an additional 11,926 shares during the last quarter. Texas Permanent School Fund raised its position in Briggs & Stratton by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 27,739 shares of the industrial products company’s stock worth $363,000 after buying an additional 1,068 shares during the last quarter. Brandes Investment Partners LP raised its position in Briggs & Stratton by 44.0% during the 4th quarter. Brandes Investment Partners LP now owns 3,672,694 shares of the industrial products company’s stock worth $48,039,000 after buying an additional 1,122,645 shares during the last quarter. Bank of New York Mellon Corp raised its position in Briggs & Stratton by 11.2% during the 4th quarter. Bank of New York Mellon Corp now owns 781,776 shares of the industrial products company’s stock worth $10,225,000 after buying an additional 78,981 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Briggs & Stratton by 7.7% during the 4th quarter. California Public Employees Retirement System now owns 161,363 shares of the industrial products company’s stock worth $2,111,000 after buying an additional 11,606 shares during the last quarter. 84.96% of the stock is owned by hedge funds and other institutional investors.
BGG stock opened at $12.79 on Tuesday. The stock has a market cap of $527.93 million, a price-to-earnings ratio of 9.91 and a beta of 0.93. Briggs & Stratton has a one year low of $11.34 and a one year high of $23.10. The company has a quick ratio of 0.47, a current ratio of 1.31 and a debt-to-equity ratio of 0.39.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Tuesday, March 19th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Monday, March 18th. Briggs & Stratton’s payout ratio is currently 43.41%.
Briggs & Stratton Company Profile
Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.
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