Bruker (NASDAQ:BRKR) Updates FY 2024 Earnings Guidance

Bruker (NASDAQ:BRKR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.360-2.410 for the period, compared to the consensus earnings per share estimate of 3.590. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion. Bruker also updated its FY24 guidance to $2.36-2.41 EPS.

Bruker Trading Up 2.6 %

Shares of Bruker stock opened at $60.49 on Friday. The firm has a market capitalization of $9.16 billion, a PE ratio of 25.10, a P/E/G ratio of 2.32 and a beta of 1.20. Bruker has a twelve month low of $54.55 and a twelve month high of $94.86. The firm’s 50-day moving average price is $63.83 and its 200 day moving average price is $66.47. The company has a current ratio of 1.65, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18.

Bruker (NASDAQ:BRKR) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Bruker had a return on equity of 24.92% and a net margin of 11.29%. The business had revenue of $864.40 million during the quarter, compared to analysts’ expectations of $866.46 million. During the same period last year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, sell-side analysts predict that Bruker will post 2.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BRKR. Barclays decreased their target price on shares of Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday. TD Cowen cut their price target on shares of Bruker from $72.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday. Wolfe Research downgraded shares of Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Citigroup cut their price target on shares of Bruker from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company dropped their target price on shares of Bruker from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.36.

About Bruker

Bruker Corporation, together with its subsidiaries, develops, manufactures, and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates through four segments: Bruker Scientific Instruments (BSI) BioSpin, BSI CALID, BSI Nano, and Bruker Energy & Supercon Technologies.