Zacks: Analysts Expect Brady Corporation (BRC) Will Announce Quarterly Sales of $280.50 Million
Brokerages expect Brady Corporation (NYSE:BRC) to announce sales of $280.50 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Brady Corporation’s earnings. The highest sales estimate is $284.10 million and the lowest is $274.50 million. Brady Corporation reported sales of $282.11 million in the same quarter last year, which indicates a negative year over year growth rate of 0.6%. The firm is expected to issue its next earnings report before the market opens on Thursday, September 7th.
On average, analysts expect that Brady Corporation will report full-year sales of $280.50 million for the current financial year, with estimates ranging from $1.10 billion to $1.11 billion. For the next year, analysts forecast that the company will report sales of $1.12 billion per share, with estimates ranging from $1.12 billion to $1.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Brady Corporation.
A number of research analysts recently commented on BRC shares. Zacks Investment Research upgraded shares of Brady Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Monday, May 15th. BidaskClub lowered shares of Brady Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.25.
Hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC increased its stake in Brady Corporation by 62.9% in the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the industrial products company’s stock worth $105,000 after buying an additional 1,195 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Brady Corporation during the second quarter worth about $118,000. Ameritas Investment Partners Inc. acquired a new stake in Brady Corporation during the first quarter worth about $153,000. State of Alaska Department of Revenue increased its stake in Brady Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 5,260 shares of the industrial products company’s stock worth $203,000 after buying an additional 120 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in Brady Corporation during the first quarter worth about $232,000. 76.57% of the stock is owned by hedge funds and other institutional investors.
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Shares of Brady Corporation (BRC) traded up 1.21% on Thursday, reaching $33.35. The company’s stock had a trading volume of 137,452 shares. The stock has a 50-day moving average price of $33.11 and a 200-day moving average price of $36.43. Brady Corporation has a 1-year low of $31.70 and a 1-year high of $40.50. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 18.03 and a beta of 1.12.
Brady Corporation Company Profile
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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