FY2019 EPS Estimates for Briggs & Stratton Co. Reduced by Analyst (BGG)

Briggs & Stratton Co. (NYSE:BGG) – Northcoast Research reduced their FY2019 earnings estimates for shares of Briggs & Stratton in a research report issued to clients and investors on Tuesday, August 14th. Northcoast Research analyst T. Hayes now expects that the industrial products company will post earnings of $1.59 per share for the year, down from their previous forecast of $1.75. Northcoast Research also issued estimates for Briggs & Stratton’s Q4 2019 earnings at $0.58 EPS.

A number of other brokerages have also recently issued reports on BGG. ValuEngine cut Briggs & Stratton from a “sell” rating to a “strong sell” rating in a report on Friday, June 1st. Zacks Investment Research cut Briggs & Stratton from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Finally, Sidoti lowered Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price target on the stock. in a research report on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $24.67.



Shares of BGG opened at $18.54 on Wednesday. Briggs & Stratton has a 12-month low of $16.26 and a 12-month high of $27.34. The company has a quick ratio of 0.71, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $733.42 million, a price-to-earnings ratio of 14.15 and a beta of 0.64.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BGG. BlackRock Inc. boosted its position in shares of Briggs & Stratton by 3.7% during the 2nd quarter. BlackRock Inc. now owns 6,448,589 shares of the industrial products company’s stock valued at $113,561,000 after purchasing an additional 228,281 shares in the last quarter. Brandes Investment Partners LP boosted its position in shares of Briggs & Stratton by 25.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,529,341 shares of the industrial products company’s stock valued at $44,541,000 after purchasing an additional 508,224 shares in the last quarter. LSV Asset Management boosted its position in shares of Briggs & Stratton by 0.5% during the 2nd quarter. LSV Asset Management now owns 2,325,617 shares of the industrial products company’s stock valued at $40,954,000 after purchasing an additional 10,900 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Briggs & Stratton by 5.3% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,050,555 shares of the industrial products company’s stock valued at $22,492,000 after purchasing an additional 53,239 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Briggs & Stratton by 1.3% during the 1st quarter. Northern Trust Corp now owns 898,898 shares of the industrial products company’s stock valued at $19,245,000 after purchasing an additional 11,337 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Briggs & Stratton announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 25th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

About Briggs & Stratton

Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

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Earnings History and Estimates for Briggs & Stratton (NYSE:BGG)

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