Brady (NYSE:BRC) Releases Earnings Results, Beats Expectations By $0.06 EPS

Brady (NYSE:BRCGet Rating) announced its quarterly earnings results on Thursday. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06, MarketWatch Earnings reports. Brady had a return on equity of 15.49% and a net margin of 10.81%. The firm had revenue of $338.60 million for the quarter, compared to analysts’ expectations of $333.91 million. During the same period in the prior year, the business posted $0.71 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. Brady updated its FY 2022 guidance to $3.08-$3.17 EPS and its FY22 guidance to $3.08-3.17 EPS.

Brady stock opened at $48.33 on Friday. The firm has a market cap of $2.49 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. Brady has a one year low of $41.69 and a one year high of $61.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.20 and a quick ratio of 1.46. The stock’s fifty day moving average price is $45.66 and its two-hundred day moving average price is $48.96.

In related news, VP Russell Shaller bought 10,000 shares of the business’s stock in a transaction on Tuesday, March 15th. The shares were purchased 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 the SEC website. Insiders own 15.60% of the company’s stock.

Several large investors have recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in Brady during the 4th quarter worth approximately $21,429,000. BlackRock Inc. increased its holdings in Brady by 2.2% during the 4th quarter. BlackRock Inc. now owns 7,567,145 shares of the industrial products company’s stock worth $407,869,000 after purchasing an additional 164,922 shares in the last quarter. Ergoteles LLC bought a new stake in Brady during the 1st quarter worth approximately $3,839,000. Morgan Stanley increased its holdings in Brady by 16.2% during the 2nd quarter. Morgan Stanley now owns 222,138 shares of the industrial products company’s stock worth $12,447,000 after purchasing an additional 30,917 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Brady by 5.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 517,138 shares of the industrial products company’s stock worth $23,928,000 after purchasing an additional 24,934 shares in the last quarter. 78.70% of the stock is currently owned by institutional investors.

Several research firms have weighed in on BRC. StockNews.com raised Brady from a “hold” rating to a “buy” rating in a research note on Friday, March 25th. Wells Fargo & Company downgraded Brady from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $60.00 to $52.00 in a report on Friday, February 18th. Finally, Zacks Investment Research upgraded Brady from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th.

About Brady (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.

Further Reading

Earnings History for Brady (NYSE:BRC)

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