Brink’s Co. (BCO) Sees Unusually-High Trading Volume
Brink’s Co. (NYSE:BCO) shares saw strong trading volume on Thursday . 1,605,312 shares changed hands during mid-day trading, an increase of 258% from the previous session’s volume of 448,336 shares.The stock last traded at $37.50 and had previously closed at $36.93.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Brink’s from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Thursday, May 5th. Imperial Capital lifted their price objective on shares of Brink’s from $30.00 to $31.50 and gave the company an “in-line” rating in a research note on Friday, May 20th.
The company has a market capitalization of $1.86 billion and a P/E ratio of 1972.63. The firm’s 50 day moving average is $31.12 and its 200-day moving average is $30.73.
Brink’s (NYSE:BCO) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The company earned $739.50 million during the quarter, compared to the consensus estimate of $699.03 million. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts expect that Brink’s Co. will post $2.00 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Tuesday, July 26th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, July 22nd.
In other Brink’s news, CEO Douglas A. Pertz purchased 83,696 shares of Brink’s stock in a transaction on Thursday, June 9th. The shares were acquired at an average cost of $29.87 per share, for a total transaction of $2,499,999.52. Following the completion of the transaction, the chief executive officer now directly owns 85,346 shares of the company’s stock, valued at $2,549,285.02. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Amit Zukerman sold 10,518 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $36.69, for a total transaction of $385,905.42. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have modified their holdings of BCO. GSA Capital Partners LLP acquired a new position in shares of Brink’s during the fourth quarter worth approximately $1,172,000. New York State Common Retirement Fund boosted its position in shares of Brink’s by 2.4% in the fourth quarter. New York State Common Retirement Fund now owns 47,100 shares of the company’s stock worth $1,359,000 after buying an additional 1,100 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Brink’s by 443.7% in the fourth quarter. Bank of Montreal Can now owns 88,243 shares of the company’s stock worth $2,546,000 after buying an additional 72,013 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Brink’s by 4.7% in the fourth quarter. Principal Financial Group Inc. now owns 321,914 shares of the company’s stock worth $9,290,000 after buying an additional 14,401 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Brink’s by 8.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 781,465 shares of the company’s stock worth $22,553,000 after buying an additional 60,031 shares during the last quarter.
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company’s solutions include cash-in-transit, automated teller machine (ATM) replenishment and maintenance, international transportation of valuables, cash management and payment services, to financial institutions, retailers, government agencies (including central banks), mints, jewelers and other commercial operations around the world.
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