Equities research analysts forecast that Brady Co. (NYSE:BRC) will post $292.77 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Brady’s earnings, with estimates ranging from $291.60 million to $295.00 million. Brady reported sales of $275.93 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.1%. The firm is expected to report its next quarterly earnings report on Thursday, May 24th.
According to Zacks, analysts expect that Brady will report full-year sales of $1.17 billion for the current financial year, with estimates ranging from $1.16 billion to $1.18 billion. For the next financial year, analysts expect that the company will report sales of $1.21 billion per share, with estimates ranging from $1.20 billion to $1.21 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Brady.
Brady (NYSE:BRC) last released its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The firm had revenue of $287.78 million during the quarter, compared to the consensus estimate of $277.17 million. Brady had a net margin of 6.82% and a return on equity of 14.10%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Brady from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Tuesday, February 27th. Bank of America raised shares of Brady from an “underperform” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.50.
In related news, VP Bentley Curran sold 20,000 shares of Brady stock in a transaction on Friday, January 19th. The shares were sold at an average price of $39.00, for a total transaction of $780,000.00. Following the completion of the transaction, the vice president now owns 52,597 shares of the company’s stock, valued at $2,051,283. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 15.60% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Brady by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,081,722 shares of the industrial products company’s stock worth $230,496,000 after buying an additional 196,730 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 38,340 shares during the last quarter. Wells Fargo & Company MN raised its stake in Brady by 7.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,137,888 shares of the industrial products company’s stock worth $43,126,000 after buying an additional 77,783 shares during the last quarter. William Blair Investment Management LLC raised its stake in Brady by 5.7% during the fourth quarter. William Blair Investment Management LLC now owns 894,114 shares of the industrial products company’s stock worth $33,887,000 after buying an additional 48,388 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Brady by 17.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 879,895 shares of the industrial products company’s stock worth $33,349,000 after buying an additional 130,046 shares during the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.
BRC stock opened at $37.10 on Friday. The firm has a market cap of $1,933.83, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.13. Brady has a 52-week low of $31.70 and a 52-week high of $40.25. The company has a quick ratio of 1.75, a current ratio of 2.41 and a debt-to-equity ratio of 0.10.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Monday, April 9th will be paid a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, April 6th. Brady’s dividend payout ratio is presently 47.43%.
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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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