SunTrust Banks Brokers Increase Earnings Estimates for Brady Corporation (BRC)
Brady Corporation (NYSE:BRC) – Research analysts at SunTrust Banks boosted their Q2 2018 earnings per share (EPS) estimates for shares of Brady Corporation in a report released on Thursday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will earn $0.42 per share for the quarter, up from their previous estimate of $0.41. SunTrust Banks currently has a “Hold” rating and a $39.00 target price on the stock. SunTrust Banks also issued estimates for Brady Corporation’s FY2018 earnings at $1.90 EPS, Q2 2019 earnings at $0.45 EPS and FY2019 earnings at $2.01 EPS.
Brady Corporation (NYSE:BRC) last issued its quarterly earnings data on Thursday, November 16th. The industrial products company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Brady Corporation had a return on equity of 13.90% and a net margin of 8.81%. The company had revenue of $290.15 million during the quarter, compared to analyst estimates of $286.75 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Brady Corporation’s revenue was up 3.6% compared to the same quarter last year.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered Brady Corporation from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Robert W. Baird set a $36.00 price objective on Brady Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, Bank of America Corporation lifted their price objective on Brady Corporation from $34.00 to $35.00 and gave the stock an “underperform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $39.20.
Shares of Brady Corporation (NYSE:BRC) opened at $38.75 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.19 and a debt-to-equity ratio of 0.13. Brady Corporation has a fifty-two week low of $31.70 and a fifty-two week high of $40.50. The company has a market capitalization of $1,991.05, a price-to-earnings ratio of 21.53, a P/E/G ratio of 2.68 and a beta of 1.18.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, January 9th. Brady Corporation’s dividend payout ratio is presently 43.92%.
In other Brady Corporation news, Director Elizabeth P. Bruno sold 24,000 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $36.75, for a total transaction of $882,000.00. Following the completion of the sale, the director now owns 371,509 shares of the company’s stock, valued at $13,652,955.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BRC. Riverhead Capital Management LLC grew its holdings in Brady Corporation by 62.9% during the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 1,195 shares during the period. SG Americas Securities LLC bought a new stake in Brady Corporation during the second quarter valued at about $118,000. Hartford Investment Management Co. bought a new stake in Brady Corporation during the third quarter valued at about $204,000. Amalgamated Bank grew its holdings in Brady Corporation by 5.0% during the second quarter. Amalgamated Bank now owns 6,403 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 305 shares during the period. Finally, Brighton Jones LLC grew its holdings in Brady Corporation by 17.9% during the second quarter. Brighton Jones LLC now owns 7,085 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 1,075 shares during the period. 74.47% of the stock is owned by institutional investors and hedge funds.
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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