Brady (NYSE:BRC) Issues FY 2024 Earnings Guidance

Brady (NYSE:BRC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 4.080-4.150 for the period, compared to the consensus earnings per share estimate of 3.990. The company issued revenue guidance of -. Brady also updated its FY24 guidance to $4.08-$4.15 EPS.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Brady from a strong-buy rating to a buy rating in a research report on Monday, February 26th.

Brady Stock Performance

NYSE BRC opened at $67.43 on Thursday. Brady has a 1-year low of $46.77 and a 1-year high of $68.01. The company has a 50 day moving average of $59.58 and a 200-day moving average of $58.72. The company has a current ratio of 2.13, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 2.17 and a beta of 0.76.

Brady (NYSE:BRC) last released its quarterly earnings results on Wednesday, May 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Brady had a return on equity of 19.24% and a net margin of 14.08%. The business had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $339.80 million. During the same period in the previous year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Brady will post 4 earnings per share for the current fiscal year.

Brady Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, July 10th. Brady’s payout ratio is 24.54%.

Insiders Place Their Bets

In related news, Director Elizabeth P. Bruno sold 8,322 shares of Brady stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $57.33, for a total transaction of $477,100.26. Following the transaction, the director now owns 333,593 shares of the company’s stock, valued at approximately $19,124,886.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Nancy Lee Gioia sold 4,250 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.20, for a total transaction of $251,600.00. Following the completion of the transaction, the director now directly owns 11,551 shares of the company’s stock, valued at $683,819.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizabeth P. Bruno sold 8,322 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $57.33, for a total transaction of $477,100.26. Following the transaction, the director now owns 333,593 shares of the company’s stock, valued at $19,124,886.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,017 shares of company stock worth $2,283,667. Insiders own 15.60% of the company’s stock.

Brady Company Profile

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 company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.