Brady (NYSE:BRC) Updates FY24 Earnings Guidance

Brady (NYSE:BRC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.08-$4.15 for the period, compared to the consensus earnings per share estimate of $4.04. Brady also updated its FY 2024 guidance to 4.080-4.150 EPS.

Wall Street Analysts Forecast Growth

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

Brady Stock Up 0.9 %

Shares of NYSE:BRC opened at $67.70 on Thursday. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 2.17 and a beta of 0.76. Brady has a 1-year low of $46.77 and a 1-year high of $67.70. The company’s fifty day moving average is $59.58 and its two-hundred day moving average is $58.72. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.13.

Brady (NYSE:BRC) last issued its earnings results on Wednesday, May 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The company had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $339.80 million. Brady had a net margin of 14.08% and a return on equity of 19.24%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. Equities analysts anticipate that Brady will post 4 EPS for the current year.

Brady Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.39%. Brady’s dividend payout ratio (DPR) is presently 24.54%.

Insider Buying and Selling

In related news, Director Elizabeth P. Bruno sold 19,030 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $58.41, for a total value of $1,111,542.30. Following the sale, the director now owns 342,115 shares of the company’s stock, valued at approximately $19,982,937.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Elizabeth P. Bruno sold 19,030 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $58.41, for a total value of $1,111,542.30. Following the sale, the director now owns 342,115 shares of the company’s stock, valued at approximately $19,982,937.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Elizabeth P. Bruno sold 8,322 shares of the firm’s stock in a transaction dated 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 directly owns 333,593 shares in the company, valued at approximately $19,124,886.69. The disclosure for this sale can be found here. Insiders have sold a total of 39,017 shares of company stock valued at $2,283,667 in the last quarter. Company insiders own 15.60% of the company’s stock.

About Brady

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.