Wall Street brokerages forecast that Brady Corp (NYSE:BRC) will post $293.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Brady’s earnings, with estimates ranging from $292.80 million to $294.80 million. Brady reported sales of $298.42 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.5%. The company is expected to issue its next earnings report before the market opens on Thursday, May 23rd.
On average, analysts expect that Brady will report full-year sales of $1.17 billion for the current financial year, with estimates ranging from $1.17 billion to $1.18 billion. For the next year, analysts expect that the firm will report sales of $1.22 billion, with estimates ranging from $1.21 billion to $1.23 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Brady.
Brady (NYSE:BRC) last released its quarterly earnings results on Thursday, February 21st. The industrial products company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $282.40 million for the quarter, compared to analysts’ expectations of $285.50 million. Brady had a net margin of 10.31% and a return on equity of 15.17%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 earnings per share.
Several brokerages have commented on BRC. ValuEngine lowered Brady from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Zacks Investment Research lowered Brady from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Northcoast Research reissued a “buy” rating on shares of Brady in a research report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $46.00.
In related news, SVP Louis T. Bolognini sold 11,131 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $47.32, for a total transaction of $526,718.92. Following the sale, the senior vice president now owns 37,971 shares in the company, valued at approximately $1,796,787.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Michael Nauman sold 18,671 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $47.16, for a total value of $880,524.36. Following the sale, the chief executive officer now owns 105,638 shares in the company, valued at approximately $4,981,888.08. The disclosure for this sale can be found here. Insiders have sold 99,779 shares of company stock valued at $4,753,943 in the last three months. Insiders own 15.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its holdings in shares of Brady by 107.7% in the 1st quarter. Quadrant Capital Group LLC now owns 920 shares of the industrial products company’s stock valued at $42,000 after buying an additional 477 shares during the period. PNC Financial Services Group Inc. grew its stake in Brady by 44.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,595 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 793 shares in the last quarter. Advisor Group Inc. boosted its stake in Brady by 45.1% in the fourth quarter. Advisor Group Inc. now owns 2,717 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 845 shares during the period. C M Bidwell & Associates Ltd. boosted its stake in Brady by 73.1% in the first quarter. C M Bidwell & Associates Ltd. now owns 3,965 shares of the industrial products company’s stock valued at $184,000 after acquiring an additional 1,675 shares during the period. Finally, Magnus Financial Group LLC acquired a new position in Brady in the first quarter valued at approximately $207,000. Institutional investors own 78.99% of the company’s stock.
Brady stock traded up $0.60 on Friday, hitting $46.89. 1,353 shares of the stock traded hands, compared to its average volume of 358,022. The company has a current ratio of 3.06, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.45 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.68 and a beta of 0.98. Brady has a 1 year low of $36.00 and a 1 year high of $50.12.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Monday, April 8th. Brady’s dividend payout ratio is currently 41.67%.
Brady Company Profile
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, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems 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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