Briggs & Stratton (BGG) Updates FY18 Earnings Guidance
Briggs & Stratton (NYSE:BGG) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.45-1.62 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.63. The company issued revenue guidance of $1.91-1.96 billion, compared to the consensus revenue estimate of $1.91 billion.
Several equities analysts have issued reports on the stock. Raymond James Financial reaffirmed an underperform rating on shares of Briggs & Stratton in a report on Tuesday, October 17th. They noted that the move was a valuation call. ValuEngine raised shares of Briggs & Stratton from a hold rating to a buy rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Briggs & Stratton from a strong sell rating to a hold rating in a report on Tuesday, October 17th. Citigroup raised shares of Briggs & Stratton to a market perform rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. Finally, Robert W. Baird reaffirmed a hold rating and issued a $26.00 price target on shares of Briggs & Stratton in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Briggs & Stratton has a consensus rating of Hold and an average price target of $27.33.
Briggs & Stratton (NYSE BGG) opened at $27.19 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.82 and a debt-to-equity ratio of 0.41. Briggs & Stratton has a 1-year low of $20.00 and a 1-year high of $27.34. The stock has a market cap of $1,160.00, a price-to-earnings ratio of 21.08 and a beta of 0.78.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.06%. Briggs & Stratton’s payout ratio is currently 43.41%.
In other news, VP Andrea L. Golvach sold 19,174 shares of Briggs & Stratton stock in a transaction on Monday, October 30th. The shares were sold at an average price of $25.20, for a total transaction of $483,184.80. Following the completion of the sale, the vice president now directly owns 27,197 shares in the company, valued at $685,364.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd J. Teske sold 60,000 shares of Briggs & Stratton stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $24.01, for a total transaction of $1,440,600.00. The disclosure for this sale can be found here. Insiders have sold 97,174 shares of company stock valued at $2,360,825 over the last quarter. Insiders own 4.20% of the company’s stock.
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Briggs & Stratton Company Profile
Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.
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