Brady (NYSE:BRC) Updates FY 2023 Earnings Guidance

Brady (NYSE:BRC – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $3.45-$3.60 for the period, compared to the consensus estimate of $3.48. The company issued revenue guidance of -.

Brady Trading Up 0.7 %

NYSE:BRC traded up $0.35 during trading hours on Friday, hitting $49.48. The company had a trading volume of 93,694 shares, compared to its average volume of 235,804. The company has a market capitalization of $2.46 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.04 and a beta of 0.79. The stock has a 50-day moving average price of $51.57 and a 200 day moving average price of $50.59. Brady has a 52 week low of $40.52 and a 52 week high of $56.35. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.19 and a quick ratio of 1.41.

Brady (NYSE:BRC – Get Rating) last released its quarterly earnings results on Friday, February 24th. The industrial products company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. The business had revenue of $326.20 million for the quarter, compared to analysts’ expectations of $319.39 million. Brady had a net margin of 12.71% and a return on equity of 18.40%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, equities research analysts predict that Brady will post 3.45 EPS for the current fiscal year.

Brady Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 10th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, July 7th. Brady’s dividend payout ratio (DPR) is currently 27.71%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Brady in a report on Thursday, May 18th. They set a buy rating on the stock.

Insider Activity

In other news, Director Elizabeth P. Bruno sold 8,500 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $54.02, for a total transaction of $459,170.00. Following the sale, the director now owns 359,019 shares in the company, valued at approximately $19,394,206.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Brady

A number of hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC boosted its stake in Brady by 14.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 281 shares in the last quarter. Captrust Financial Advisors boosted its stake in Brady by 8.6% in the 2nd quarter. Captrust Financial Advisors now owns 3,662 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 290 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in Brady by 27.1% in the 1st quarter. Belpointe Asset Management LLC now owns 1,456 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 310 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Brady by 2.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,064 shares of the industrial products company’s stock worth $1,042,000 after purchasing an additional 495 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in Brady in the 1st quarter worth about $28,000. Institutional investors own 77.57% of the company’s stock.

Brady Company Profile

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Brady Corp. engages in the manufacture and market of specialty materials and identification solutions that determines and protects premises, products, and people. The firm operates through the Identification Solutions (IDS) and Workplace Safety (WPS) segments. The IDS segment offers industrial and healthcare identification products.