Brink’s (NYSE:BCO) Releases Quarterly Earnings Results, Misses Expectations By $0.35 EPS

Brink’s (NYSE:BCO) released its earnings results on Wednesday. The business services provider reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.35), Briefing.com reports. Brink’s had a net margin of 2.73% and a return on equity of 69.80%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the firm posted $1.92 EPS. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. Brink’s updated its FY 2024 guidance to 6.500-6.800 EPS and its FY24 guidance to $6.50-6.80 EPS.

Brink’s Price Performance

Shares of NYSE:BCO traded down $2.17 during mid-day trading on Thursday, reaching $100.51. The stock had a trading volume of 324,876 shares, compared to its average volume of 258,665. The company has a market cap of $4.44 billion, a P/E ratio of 34.69 and a beta of 1.44. The business’s 50 day moving average price is $108.68 and its 200 day moving average price is $103.37. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 7.78. Brink’s has a 1 year low of $72.68 and a 1 year high of $115.91.

Brink’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.2425 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.97 annualized dividend and a dividend yield of 0.97%. Brink’s’s dividend payout ratio (DPR) is 32.77%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BCO. StockNews.com upgraded Brink’s from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Truist Financial dropped their price target on Brink’s from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $120.50.

Brink’s Company Profile

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.