Brady (NYSE:BRC) Updates FY 2022 Earnings Guidance

Posted by on Jun 2nd, 2022

Brady (NYSE:BRC – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $3.08-$3.17 for the period, compared to the consensus EPS estimate of $3.05. The company issued revenue guidance of -.

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Brady from a hold rating to a buy rating in a research note on Friday, March 25th. Wells Fargo & Company cut Brady from an overweight rating to an equal weight rating and lowered their price objective for the company from $60.00 to $52.00 in a research note on Friday, February 18th. Finally, Zacks Investment Research upgraded Brady from a sell rating to a hold rating in a research report on Tuesday, April 26th.

NYSE BRC opened at $47.97 on Thursday. Brady has a 12 month low of $41.69 and a 12 month high of $61.76. The stock has a market cap of $2.48 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.22 and a beta of 0.80. The stock’s fifty day moving average price is $45.90 and its 200-day moving average price is $48.80. The company has a current ratio of 1.97, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08.

Brady (NYSE:BRC – Get Rating) last announced its earnings results on Thursday, May 26th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $338.60 million for the quarter, compared to analysts’ expectations of $333.91 million. Brady had a return on equity of 16.38% and a net margin of 10.66%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the firm posted $0.71 earnings per share. As a group, analysts forecast that Brady will post 3.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 8th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, July 7th. Brady’s dividend payout ratio (DPR) is currently 34.22%.

In other Brady news, VP Russell Shaller purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, March 15th. The shares were bought at an average cost of $43.50 per share, with a total value of $435,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elizabeth P. Bruno sold 4,250 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $48.32, for a total transaction of $205,360.00. Following the sale, the director now directly owns 356,340 shares of the company’s stock, valued at $17,218,348.80. The disclosure for this sale can be found here. 15.60% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new position in Brady in the fourth quarter valued at about $21,429,000. BlackRock Inc. grew its stake in shares of Brady by 2.2% during the fourth quarter. BlackRock Inc. now owns 7,567,145 shares of the industrial products company’s stock worth $407,869,000 after acquiring an additional 164,922 shares during the last quarter. Ergoteles LLC purchased a new stake in shares of Brady during the first quarter worth about $3,839,000. Morgan Stanley grew its stake in shares of Brady by 16.2% during the second quarter. Morgan Stanley now owns 222,138 shares of the industrial products company’s stock worth $12,447,000 after acquiring an additional 30,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Brady by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 517,138 shares of the industrial products company’s stock worth $23,928,000 after acquiring an additional 24,934 shares during the last quarter. Hedge funds and other institutional investors own 78.70% of the company’s stock.

Brady Company Profile (Get Rating)

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, floor-marking tapes, pipe markers, labeling systems, spill control products, and lockout/tagout devices for facility identification and protection; materials, printing systems, RFID and bar code scanners 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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