Brink’s Co. (BCO) Sees Unusually-High Trading Volume
Brink’s Co. (NYSE:BCO) saw an uptick in trading volume on Thursday . 1,605,312 shares traded hands during 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.
Several brokerages recently issued reports on BCO. Zacks Investment Research raised shares of Brink’s from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a 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 report on Friday, May 20th.
The firm’s 50-day moving average price is $31.35 and its 200-day moving average price is $30.80. The stock has a market capitalization of $1.85 billion and a P/E ratio of 1964.74.
Brink’s (NYSE:BCO) last released its earnings results on Thursday, July 28th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.12. The business had revenue of $739.50 million for the quarter, compared to the consensus estimate of $699.03 million. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. Equities analysts expect that Brink’s Co. will post $2.00 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Tuesday, July 26th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, July 22nd. This represents a $0.40 annualized dividend and a yield of 1.07%.
In other Brink’s news, insider Amit Zukerman sold 10,518 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $36.69, for a total transaction of $385,905.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas A. Pertz bought 83,696 shares of the stock in a transaction on Thursday, June 9th. The shares were acquired at an average price of $29.87 per share, with a total value of $2,499,999.52. Following the purchase, the chief executive officer now owns 85,346 shares of the company’s stock, valued at $2,549,285.02. The disclosure for this purchase can be found here.
A number of hedge funds have added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its stake in 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 valued at $1,359,000 after buying an additional 1,100 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Brink’s during the fourth quarter valued at about $1,172,000. Bank of Montreal Can increased 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 valued at $2,546,000 after buying an additional 72,013 shares during the period. Finally, Principal Financial Group Inc. increased 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 valued at $9,290,000 after buying an additional 14,401 shares during the period.
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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