Brady (BRC) Set to Announce Earnings on Thursday

Brady (NYSE:BRC) will post its quarterly earnings results before the market opens on Thursday, November 16th. Analysts expect Brady to post earnings of $0.97 per share for the quarter. Brady has set its FY 2024 guidance at $3.85-$4.10 EPS and its FY24 guidance at $3.70-3.95 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Brady (NYSE:BRC) last released its earnings results on Tuesday, September 5th. The industrial products company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $345.90 million for the quarter, compared to analyst estimates of $329.29 million. Brady had a net margin of 13.13% and a return on equity of 18.78%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS. On average, analysts expect Brady to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Brady Stock Up 0.5 %

BRC stock opened at $53.52 on Thursday. The firm has a market cap of $2.59 billion, a PE ratio of 15.25, a PEG ratio of 1.90 and a beta of 0.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.35 and a current ratio of 2.03. The firm’s 50 day moving average price is $54.28 and its 200-day moving average price is $51.25. Brady has a one year low of $44.71 and a one year high of $58.20.

Brady Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 10th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, October 6th. This is a positive change from Brady’s previous quarterly dividend of $0.23. Brady’s payout ratio is presently 26.78%.

Insiders Place Their Bets

In other Brady news, VP Bentley Curran sold 6,209 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $55.96, for a total value of $347,455.64. Following the completion of the transaction, the vice president now owns 15,462 shares in the company, valued at $865,253.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Bentley Curran sold 6,209 shares of Brady stock in a transaction on Monday, September 25th. The shares were sold at an average price of $55.96, for a total transaction of $347,455.64. Following the completion of the sale, the vice president now directly owns 15,462 shares of the company’s stock, valued at approximately $865,253.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nancy Lee Gioia sold 4,250 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $55.82, for a total transaction of $237,235.00. Following the completion of the sale, the director now directly owns 11,456 shares of the company’s stock, valued at $639,473.92. The disclosure for this sale can be found here. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Brady

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming lifted its position in Brady by 30.2% in the second quarter. State of Wyoming now owns 4,552 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 1,055 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Brady in the second quarter valued at about $211,000. Caxton Associates LP purchased a new stake in shares of Brady in the second quarter valued at about $201,000. Captrust Financial Advisors raised its holdings in shares of Brady by 9.9% in the second quarter. Captrust Financial Advisors now owns 3,706 shares of the industrial products company’s stock valued at $175,000 after buying an additional 334 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Brady by 59.6% in the second quarter. Lazard Asset Management LLC now owns 3,547 shares of the industrial products company’s stock valued at $168,000 after buying an additional 1,325 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BRC. StockNews.com upgraded shares of Brady from a “buy” rating to a “strong-buy” rating in a report on Friday, November 3rd. Bank of America lifted their target price on shares of Brady from $47.00 to $51.00 in a report on Wednesday, October 4th.

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.