FY2019 Earnings Forecast for Brady Corp Issued By SunTrust Banks (BRC)
Brady Corp (NYSE:BRC) – Stock analysts at SunTrust Banks increased their FY2019 earnings per share (EPS) estimates for shares of Brady in a research report issued on Thursday, September 13th. SunTrust Banks analyst C. Brady now expects that the industrial products company will earn $2.15 per share for the year, up from their prior forecast of $2.13. SunTrust Banks also issued estimates for Brady’s Q4 2019 earnings at $0.61 EPS, Q1 2020 earnings at $0.55 EPS, Q4 2020 earnings at $0.66 EPS and FY2020 earnings at $2.30 EPS.
BRC has been the subject of a number of other research reports. Bank of America cut Brady from a “buy” rating to an “underperform” rating and set a $40.00 target price for the company. in a report on Monday, July 16th. Zacks Investment Research cut Brady from a “buy” rating to a “hold” rating in a report on Friday, May 25th. Finally, ValuEngine raised Brady from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $42.25.
Brady (NYSE:BRC) last announced its earnings results on Thursday, September 13th. The industrial products company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Brady had a return on equity of 14.23% and a net margin of 6.98%. The business had revenue of $297.50 million during the quarter, compared to analysts’ expectations of $297.04 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year.
Several large investors have recently bought and sold shares of BRC. Fort L.P. acquired a new stake in shares of Brady in the second quarter valued at approximately $103,000. Bruderman Asset Management LLC acquired a new stake in shares of Brady in the second quarter valued at approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Brady by 95.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,941 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 1,921 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Brady in the second quarter valued at approximately $212,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Brady in the first quarter valued at approximately $237,000. 75.99% of the stock is owned by hedge funds and other institutional investors.
In other Brady news, VP Bentley Curran sold 13,790 shares of the stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of $39.61, for a total transaction of $546,221.90. Following the completion of the transaction, the vice president now owns 41,189 shares of the company’s stock, valued at $1,631,496.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas J. Felmer sold 35,000 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $42.71, for a total value of $1,494,850.00. Following the transaction, the vice president now directly owns 93,115 shares of the company’s stock, valued at approximately $3,976,941.65. The disclosure for this sale can be found here. Insiders have sold 61,457 shares of company stock valued at $2,566,446 in the last three months. Insiders own 15.60% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th will be issued a dividend of $0.85 per share. The ex-dividend date is Tuesday, October 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.51%. This is a boost from Brady’s previous quarterly dividend of $0.21. Brady’s dividend payout ratio is presently 40.69%.
Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The IDS segment offers safety signs, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials and printing systems for product identification, brand protection labeling, work in process labeling, and finished product identification; and hand-held printers, wire markers, sleeves, and tags for wire identification, as well as software and services for safety compliance auditing, procedure writing, and training.
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