Brady (NYSE:BRC) Issues FY 2023 Earnings Guidance

Brady (NYSE:BRCGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.30-$3.60 for the period, compared to the consensus estimate of $3.58. The company issued revenue guidance of -.

Brady Stock Performance

Shares of Brady stock opened at $42.53 on Friday. The firm has a market cap of $2.12 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.82 and a beta of 0.74. Brady has a 1 year low of $41.69 and a 1 year high of $55.95. The firm’s 50-day simple moving average is $46.72 and its 200-day simple moving average is $46.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.21 and a current ratio of 1.95.

Brady (NYSE:BRCGet Rating) last announced its quarterly earnings results on Thursday, September 1st. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $324.00 million for the quarter, compared to analyst estimates of $331.11 million. Brady had a net margin of 11.52% and a return on equity of 17.33%. Brady’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.70 earnings per share. Equities analysts forecast that Brady will post 3.35 earnings per share for the current fiscal year.

Brady Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be given a dividend of $0.23 per share. This is a positive change from Brady’s previous quarterly dividend of $0.23. This represents a $0.92 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, October 6th. Brady’s payout ratio is 30.93%.

Hedge Funds Weigh In On Brady

Several institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its stake in shares of Brady by 14.4% during the first quarter. Lazard Asset Management LLC now owns 2,232 shares of the industrial products company’s stock worth $103,000 after buying an additional 281 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in shares of Brady by 740.0% in the first quarter. Point72 Hong Kong Ltd now owns 2,814 shares of the industrial products company’s stock valued at $130,000 after buying an additional 2,479 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Brady by 55.8% in the first quarter. Captrust Financial Advisors now owns 3,372 shares of the industrial products company’s stock valued at $156,000 after buying an additional 1,208 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Brady in the second quarter valued at approximately $302,000. Finally, Jane Street Group LLC bought a new stake in shares of Brady in the first quarter worth $341,000. 78.22% of the stock is owned by institutional investors.

Brady Company Profile

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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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