Briggs & Stratton Corporation (NYSE:BGG) issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.08, Bloomberg Earnings reports. The business had revenue of $329.10 million during the quarter, compared to the consensus estimate of $295.84 million. Briggs & Stratton Corporation had a return on equity of 11.38% and a net margin of 3.05%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.34) earnings per share. Briggs & Stratton Corporation updated its FY18 guidance to $1.41-1.58 EPS.
Shares of Briggs & Stratton Corporation (NYSE BGG) traded down $0.06 during mid-day trading on Friday, reaching $24.24. The company’s stock had a trading volume of 206,800 shares, compared to its average volume of 263,893. The firm has a market capitalization of $1,030.00, a P/E ratio of 17.74 and a beta of 0.79. Briggs & Stratton Corporation has a 12 month low of $20.00 and a 12 month high of $25.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.70 and a current ratio of 1.82.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, December 14th. Briggs & Stratton Corporation’s dividend payout ratio is currently 43.75%.
A number of brokerages recently issued reports on BGG. ValuEngine raised Briggs & Stratton Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. BidaskClub raised Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Zacks Investment Research raised Briggs & Stratton Corporation from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Friday, August 11th. Finally, Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Briggs & Stratton Corporation in a report on Tuesday, October 17th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $26.50.
In other news, insider Todd J. Teske sold 5,830 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $20.68, for a total transaction of $120,564.40. Following the transaction, the insider now directly owns 379,417 shares in the company, valued at approximately $7,846,343.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Andrea L. Golvach sold 19,174 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $25.20, for a total transaction of $483,184.80. Following the completion of the sale, the vice president now owns 27,197 shares of the company’s stock, valued at $685,364.40. The disclosure for this sale can be found here. Insiders sold 32,004 shares of company stock worth $748,579 in the last ninety days. 4.20% of the stock is owned by corporate insiders.
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Briggs & Stratton Corporation Company Profile
Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.
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