Brokers Set Expectations for Global Brass and Copper Holdings Inc’s Q2 2019 Earnings (NYSE:BRSS)

Global Brass and Copper Holdings Inc (NYSE:BRSS) – Equities research analysts at KeyCorp decreased their Q2 2019 earnings per share (EPS) estimates for Global Brass and Copper in a note issued to investors on Wednesday, June 12th. KeyCorp analyst P. Gibbs now anticipates that the industrial products company will post earnings per share of $0.61 for the quarter, down from their previous forecast of $0.76. KeyCorp also issued estimates for Global Brass and Copper’s Q3 2019 earnings at $0.67 EPS and FY2019 earnings at $2.50 EPS.

Separately, Zacks Investment Research downgraded shares of Global Brass and Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, May 6th.

Global Brass and Copper stock opened at $43.69 on Friday. Global Brass and Copper has a 1 year low of $24.06 and a 1 year high of $44.08. The company has a market capitalization of $960.22 million, a P/E ratio of 14.00 and a beta of 1.13. The company has a quick ratio of 1.97, a current ratio of 3.27 and a debt-to-equity ratio of 1.49.

Global Brass and Copper (NYSE:BRSS) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). Global Brass and Copper had a net margin of 3.50% and a return on equity of 34.25%. The company had revenue of $430.30 million during the quarter, compared to analysts’ expectations of $428.50 million.

A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in Global Brass and Copper by 1.0% in the fourth quarter. Victory Capital Management Inc. now owns 44,026 shares of the industrial products company’s stock valued at $1,107,000 after purchasing an additional 428 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Global Brass and Copper by 5.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,700 shares of the industrial products company’s stock valued at $816,000 after purchasing an additional 1,150 shares during the period. Swiss National Bank grew its holdings in Global Brass and Copper by 3.1% in the first quarter. Swiss National Bank now owns 40,500 shares of the industrial products company’s stock valued at $1,395,000 after purchasing an additional 1,200 shares during the period. PNC Financial Services Group Inc. grew its holdings in Global Brass and Copper by 10.3% in the first quarter. PNC Financial Services Group Inc. now owns 13,156 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 1,230 shares during the period. Finally, Citigroup Inc. grew its holdings in Global Brass and Copper by 22.5% in the fourth quarter. Citigroup Inc. now owns 8,058 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 1,482 shares during the period. Hedge funds and other institutional investors own 94.65% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Monday, May 13th were issued a $0.09 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.36 dividend on an annualized basis and a yield of 0.82%. Global Brass and Copper’s payout ratio is 11.54%.

Global Brass and Copper Company Profile

Global Brass and Copper Holdings, Inc converts, fabricates, processes, and distributes specialized non-ferrous products in the United States, the Asia Pacific, and Mexico. It operates in three segments: Olin Brass, Chase Brass, and A.J. Oster. The Olin Brass segment manufactures, fabricates, and converts specialized copper and brass sheets, strips, foils, tubes, and fabricated products; and rerolls and forms other alloys, such as stainless steel, carbon steel, and aluminum.

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