Brink’s (NYSE:BCO) Announces Quarterly Earnings Results

Brink’s (NYSE:BCO) issued its quarterly earnings data on Wednesday. The business services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.29, Briefing.com reports. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.21 billion. Brink’s had a return on equity of 55.36% and a net margin of 1.77%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. Brink’s updated its FY 2024 guidance to 7.300-8.000 EPS and its FY24 guidance to $7.30-8.00 EPS.

Brink’s Stock Performance

BCO traded down $0.04 during mid-day trading on Friday, reaching $96.33. 24,392 shares of the company traded hands, compared to its average volume of 214,739. The stock has a market capitalization of $4.31 billion, a P/E ratio of 53.08 and a beta of 1.39. Brink’s has a 52-week low of $63.79 and a 52-week high of $98.31. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 6.27. The company’s fifty day moving average price is $87.83 and its 200-day moving average price is $82.85.

Brink’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a $0.243 dividend. This is a positive change from Brink’s’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.97 dividend on an annualized basis and a yield of 1.01%. Brink’s’s payout ratio is 53.30%.

Insider Buying and Selling

In other Brink’s news, Director Keith R. Wyche sold 400 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.37, for a total value of $32,948.00. Following the completion of the sale, the director now owns 665 shares in the company, valued at $54,776.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on BCO shares. Truist Financial upped their price objective on shares of Brink’s from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. TheStreet cut Brink’s from a “b” rating to a “c+” rating in a research note on Wednesday, March 13th. Finally, The Goldman Sachs Group upped their price target on Brink’s from $98.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, March 1st.

About Brink’s

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.