SunTrust Banks Research Analysts Lift Earnings Estimates for Brady Corporation (BRC)
Brady Corporation (NYSE:BRC) – Equities researchers at SunTrust Banks lifted their Q1 2018 earnings per share estimates for shares of Brady Corporation in a research report issued to clients and investors on Monday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings of $0.47 per share for the quarter, up from their prior estimate of $0.45. SunTrust Banks also issued estimates for Brady Corporation’s Q2 2018 earnings at $0.41 EPS, Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $1.89 EPS and FY2019 earnings at $2.00 EPS.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut Brady Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America Corporation boosted their price objective on Brady Corporation from $33.00 to $34.00 and gave the company an “underperform” rating in a research report on Friday, September 8th. Robert W. Baird set a $36.00 price objective on Brady Corporation and gave the company a “hold” rating in a research report on Thursday, August 24th. Finally, BidaskClub cut Brady Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $39.25.
Shares of Brady Corporation (NYSE BRC) traded up 0.55% during mid-day trading on Thursday, reaching $36.50. 109,958 shares of the company’s stock traded hands. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 19.73 and a beta of 1.11. The stock has a 50-day moving average price of $33.39 and a 200 day moving average price of $36.09. Brady Corporation has a 12-month low of $31.70 and a 12-month high of $40.50.
Brady Corporation (NYSE:BRC) last issued its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Brady Corporation had a net margin of 8.59% and a return on equity of 13.93%. The business had revenue of $289.20 million during the quarter, compared to analyst estimates of $280.47 million. During the same period last year, the business posted $0.49 earnings per share. Brady Corporation’s quarterly revenue was up 2.5% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 10th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 9.15%. This is a boost from Brady Corporation’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, October 6th. Brady Corporation’s dividend payout ratio is 44.57%.
Large investors have recently made changes to their positions in the business. Riverhead Capital Management LLC grew its position in Brady Corporation by 62.9% in the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 1,195 shares during the period. SG Americas Securities LLC bought a new stake in Brady Corporation in the second quarter valued at $118,000. Ameritas Investment Partners Inc. bought a new stake in Brady Corporation in the first quarter valued at $153,000. Amalgamated Bank grew its position in Brady Corporation by 5.0% in the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 305 shares during the period. Finally, Brighton Jones LLC bought a new stake in Brady Corporation in the first quarter valued at $232,000. Hedge funds and other institutional investors own 76.57% of the company’s stock.
About Brady Corporation
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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