Brady (NYSE:BRC) Issues FY 2022 Earnings Guidance

Brady (NYSE:BRCGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.08-$3.17 for the period, compared to the consensus estimate of $3.05. The company issued revenue guidance of -.Brady also updated its FY22 guidance to $3.08-3.17 EPS.

BRC opened at $49.99 on Friday. The stock has a market cap of $2.58 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.13 and a beta of 0.80. 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 50 day simple moving average is $45.73 and its 200 day simple moving average is $48.92. Brady has a 1-year low of $41.69 and a 1-year high of $61.76.

Brady (NYSE:BRCGet Rating) last announced its earnings results on Thursday, May 26th. The industrial products company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $338.60 million for the quarter, compared to analysts’ expectations of $333.91 million. Brady had a return on equity of 15.49% and a net margin of 10.81%. Brady’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. Research analysts expect that Brady will post 3 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 8th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, July 7th. Brady’s dividend payout ratio (DPR) is currently 35.16%.

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

In other Brady news, VP Russell Shaller purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, March 15th. The shares were bought at an average price of $43.50 per share, with a total value of $435,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.60% of the company’s stock.

A number of large investors have recently made changes to their positions in BRC. Morgan Stanley raised its holdings in Brady by 16.2% during the second 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. Royal Bank of Canada grew its position in Brady by 9.2% in the third quarter. Royal Bank of Canada now owns 4,562 shares of the industrial products company’s stock worth $231,000 after buying an additional 386 shares during the last quarter. UBS Group AG grew its position in Brady by 9.7% in the third quarter. UBS Group AG now owns 28,582 shares of the industrial products company’s stock worth $1,449,000 after buying an additional 2,521 shares during the last quarter. Jane Street Group LLC acquired a new position in Brady in the third quarter worth approximately $230,000. Finally, Credit Suisse AG grew its position in Brady by 5.8% in the fourth quarter. Credit Suisse AG now owns 42,722 shares of the industrial products company’s stock worth $2,302,000 after buying an additional 2,329 shares during the last quarter. 78.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

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