Brady (NYSE:BRC) Updates FY 2022 Earnings Guidance

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

Shares of BRC opened at $48.41 on Thursday. Brady has a twelve month low of $41.69 and a twelve month high of $61.76. The company has a current ratio of 1.97, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.43 billion, a P/E ratio of 18.41, a PEG ratio of 2.23 and a beta of 0.80. The firm’s 50-day moving average is $46.07 and its two-hundred day moving average is $48.66.

Brady (NYSE:BRCGet Rating) last announced its earnings results on Thursday, May 26th. The industrial products company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Brady had a return on equity of 16.38% and a net margin of 10.66%. The firm had revenue of $338.60 million for the quarter, compared to analysts’ expectations of $333.91 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Brady’s quarterly revenue was up 14.6% on a year-over-year basis. Analysts predict that Brady will post 3.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 8th will be paid a dividend of $0.225 per share. The ex-dividend date is Thursday, July 7th. This represents a $0.90 annualized dividend and a yield of 1.86%. Brady’s dividend payout ratio is currently 34.22%.

A number of research analysts have commented on the stock. Wells Fargo & Company downgraded shares of Brady from an overweight rating to an equal weight rating and reduced their price objective for the company from $60.00 to $52.00 in a research note on Friday, February 18th. Zacks Investment Research raised Brady from a sell rating to a hold rating in a report on Tuesday, April 26th. Finally, upgraded shares of Brady from a hold rating to a buy rating in a research report on Friday, March 25th.

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

Large investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its position in Brady by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 39,493 shares of the industrial products company’s stock valued at $2,129,000 after acquiring an additional 271 shares during the period. Lazard Asset Management LLC increased its position in shares of Brady by 14.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 281 shares in the last quarter. Royal Bank of Canada lifted its holdings in Brady by 9.2% during the 3rd quarter. Royal Bank of Canada now owns 4,562 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 386 shares during the last quarter. Citadel Advisors LLC boosted its position in Brady by 1.6% in the fourth quarter. Citadel Advisors LLC now owns 30,301 shares of the industrial products company’s stock valued at $1,633,000 after buying an additional 465 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Brady by 0.8% during the first quarter. Rhumbline Advisers now owns 136,008 shares of the industrial products company’s stock worth $6,293,000 after buying an additional 1,108 shares during the last quarter. 78.70% of the stock is owned by institutional investors.

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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