Brady Corporation (BRC) Expected to Announce Quarterly Sales of $287.40 Million

Brokerages predict that Brady Corporation (NYSE:BRC) will post $287.40 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Brady Corporation’s earnings. The lowest sales estimate is $283.20 million and the highest is $291.50 million. Brady Corporation reported sales of $280.18 million in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, November 16th.

According to Zacks, analysts expect that Brady Corporation will report full-year sales of $287.40 million for the current financial year, with estimates ranging from $1.13 billion to $1.16 billion. For the next financial year, analysts forecast that the firm will report sales of $1.18 billion per share, with estimates ranging from $1.16 billion to $1.20 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Brady Corporation.

Brady Corporation (NYSE:BRC) last announced its quarterly earnings results on Thursday, September 7th. The industrial products company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. Brady Corporation had a net margin of 8.59% and a return on equity of 13.93%. The company had revenue of $289.20 million for the quarter, compared to analyst estimates of $280.47 million. During the same quarter last year, the business earned $0.49 earnings per share. Brady Corporation’s revenue was up 2.5% compared to the same quarter last year.

BRC has been the topic of several analyst reports. Zacks Investment Research lowered shares of Brady Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Robert W. Baird set a $36.00 price target on shares of Brady Corporation and gave the company a “hold” rating in a research note on Thursday, August 24th. Bank of America Corporation raised their price target on shares of Brady Corporation from $33.00 to $34.00 and gave the company an “underperform” rating in a research note on Friday, September 8th. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $38.00 price target on shares of Brady Corporation in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.80.

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Shares of Brady Corporation (NYSE:BRC) traded up $0.25 during trading hours on Wednesday, hitting $38.25. 128,600 shares of the company’s stock traded hands, compared to its average volume of 199,410. Brady Corporation has a 12 month low of $31.70 and a 12 month high of $40.50. The firm has a market capitalization of $1,952.52, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.64 and a beta of 1.18. The company has a quick ratio of 1.61, a current ratio of 2.18 and a debt-to-equity ratio of 0.15.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Tuesday, October 10th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 8.68%. The ex-dividend date was Friday, October 6th. This is a positive change from Brady Corporation’s previous quarterly dividend of $0.21. Brady Corporation’s dividend payout ratio (DPR) is currently 45.11%.

In related news, Director Elizabeth P. Bruno sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $36.75, for a total transaction of $882,000.00. Following the transaction, the director now owns 371,509 shares in the company, valued at $13,652,955.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp increased its stake in shares of Brady Corporation by 3.0% during the second quarter. Northern Trust Corp now owns 622,251 shares of the industrial products company’s stock valued at $21,094,000 after acquiring an additional 18,411 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Brady Corporation by 6.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 308,143 shares of the industrial products company’s stock valued at $11,910,000 after acquiring an additional 19,746 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Brady Corporation during the second quarter valued at approximately $5,218,000. BlackRock Inc. increased its stake in shares of Brady Corporation by 1.3% during the second quarter. BlackRock Inc. now owns 5,730,661 shares of the industrial products company’s stock valued at $194,270,000 after acquiring an additional 71,895 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Brady Corporation by 10.5% during the second quarter. JPMorgan Chase & Co. now owns 3,629,633 shares of the industrial products company’s stock valued at $123,045,000 after acquiring an additional 345,775 shares during the period. Institutional investors and hedge funds own 75.23% of the company’s stock.

About Brady Corporation

Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The Company has two segments: Identification Solutions (IDS) and Workplace Safety (WPS). The IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products.

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Earnings History and Estimates for Brady Corporation (NYSE:BRC)

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