Q2 2020 Earnings Estimate for Briggs & Stratton Co. Issued By Northcoast Research (NYSE:BGG)

Briggs & Stratton Co. (NYSE:BGG) – Northcoast Research cut their Q2 2020 earnings per share estimates for shares of Briggs & Stratton in a report issued on Monday, April 29th, according to Zacks Investment Research. Northcoast Research analyst T. Hayes now forecasts that the industrial products company will post earnings of $0.31 per share for the quarter, down from their previous forecast of $0.32.

A number of other brokerages also recently commented on BGG. ValuEngine downgraded Briggs & Stratton from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 24th. Robert W. Baird set a $14.00 price target on Briggs & Stratton and gave the stock a “hold” rating in a research report on Friday, January 25th. Finally, Zacks Investment Research upgraded Briggs & Stratton from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.50.

Briggs & Stratton stock opened at $10.54 on Wednesday. The stock has a market capitalization of $461.80 million, a P/E ratio of 8.17 and a beta of 0.89. Briggs & Stratton has a 1-year low of $10.15 and a 1-year high of $21.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.50 and a current ratio of 1.34.

Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $580.20 million during the quarter, compared to analysts’ expectations of $575.35 million. Briggs & Stratton had a positive return on equity of 4.22% and a negative net margin of 2.54%. Briggs & Stratton’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share.

Institutional investors and hedge funds have recently made changes to their positions in the business. Brandes Investment Partners LP raised its holdings in Briggs & Stratton by 21.6% during the 1st quarter. Brandes Investment Partners LP now owns 4,465,929 shares of the industrial products company’s stock worth $52,832,000 after purchasing an additional 793,235 shares during the last quarter. Vanguard Group Inc boosted its stake in Briggs & Stratton by 1.3% in the third quarter. Vanguard Group Inc now owns 4,281,700 shares of the industrial products company’s stock valued at $82,337,000 after buying an additional 55,070 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Briggs & Stratton by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,281,700 shares of the industrial products company’s stock valued at $82,337,000 after purchasing an additional 55,070 shares in the last quarter. LSV Asset Management raised its position in shares of Briggs & Stratton by 1.3% during the fourth quarter. LSV Asset Management now owns 2,356,917 shares of the industrial products company’s stock worth $30,828,000 after acquiring an additional 31,300 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Briggs & Stratton by 11.2% during the fourth quarter. Bank of New York Mellon Corp now owns 781,776 shares of the industrial products company’s stock worth $10,225,000 after acquiring an additional 78,981 shares during the last quarter. Institutional investors and hedge funds own 84.27% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 19th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.31%. The ex-dividend date is Tuesday, June 18th. Briggs & Stratton’s dividend payout ratio (DPR) is currently 43.41%.

Briggs & Stratton Company Profile

Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

Further Reading: Percentage Gainers

Get a free copy of the Zacks research report on Briggs & Stratton (BGG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Briggs & Stratton (NYSE:BGG)

Receive News & Ratings for Briggs & Stratton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Briggs & Stratton and related companies with MarketBeat.com's FREE daily email newsletter.