Brady (NYSE:BRC) Updates FY 2023 Earnings Guidance

Brady (NYSE:BRCGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of $3.30-$3.60 for the period, compared to the consensus EPS estimate of $3.58. The company issued revenue guidance of -.

Brady Stock Down 0.2 %

Shares of NYSE BRC opened at $42.53 on Friday. The company has a market capitalization of $2.12 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.82 and a beta of 0.74. Brady has a 1 year low of $41.69 and a 1 year high of $55.95. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.95 and a quick ratio of 1.21. The company has a 50 day simple moving average of $46.72 and a 200-day simple moving average of $46.15.

Brady (NYSE:BRCGet Rating) last posted its quarterly earnings data on Thursday, September 1st. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Brady had a net margin of 11.52% and a return on equity of 17.33%. The firm had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $331.11 million. During the same quarter last year, the company posted $0.70 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts predict that Brady will post 3.35 earnings per share for the current year.

Brady Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.16%. This is a boost from Brady’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, October 6th. Brady’s dividend payout ratio is 30.93%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Brady by 34.0% during the second quarter. State Street Corp now owns 4,963,837 shares of the industrial products company’s stock worth $234,492,000 after acquiring an additional 1,259,342 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Brady by 8.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,009,621 shares of the industrial products company’s stock worth $94,934,000 after acquiring an additional 148,426 shares during the period. Ergoteles LLC purchased a new stake in shares of Brady during the first quarter worth $3,839,000. Voya Investment Management LLC increased its position in shares of Brady by 295.3% during the second quarter. Voya Investment Management LLC now owns 72,923 shares of the industrial products company’s stock worth $3,444,000 after acquiring an additional 54,477 shares during the period. Finally, Citadel Advisors LLC increased its position in shares of Brady by 140.5% during the second quarter. Citadel Advisors LLC now owns 55,297 shares of the industrial products company’s stock worth $2,612,000 after acquiring an additional 32,303 shares during the period. 78.22% of the stock is currently owned by institutional investors and hedge funds.

About Brady

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Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials, printing systems, RFID and bar code scanners for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.

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