Briggs & Stratton Co. (NYSE:BGG) – Equities research analysts at Northcoast Research upped their Q3 2019 earnings estimates for Briggs & Stratton in a report released on Monday, October 29th. Northcoast Research analyst T. Hayes now expects that the industrial products company will post earnings per share of $1.05 for the quarter, up from their previous estimate of $1.02. Northcoast Research has a “Buy” rating and a $25.00 price target on the stock. Northcoast Research also issued estimates for Briggs & Stratton’s Q4 2019 earnings at $0.68 EPS, Q2 2020 earnings at $0.41 EPS, Q3 2020 earnings at $1.23 EPS, Q4 2020 earnings at $0.81 EPS and FY2020 earnings at $1.90 EPS.
Briggs & Stratton (NYSE:BGG) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.04). The firm had revenue of $279.00 million for the quarter, compared to analyst estimates of $297.80 million. Briggs & Stratton had a negative net margin of 2.04% and a positive return on equity of 8.46%.
BGG stock opened at $13.41 on Tuesday. The firm has a market cap of $619.28 million, a P/E ratio of 10.40 and a beta of 0.66. The company has a current ratio of 1.39, a quick ratio of 0.44 and a debt-to-equity ratio of 0.39. Briggs & Stratton has a one year low of $13.33 and a one year high of $27.34.
Several hedge funds and other institutional investors have recently made changes to their positions in BGG. Whittier Trust Co. grew its position in shares of Briggs & Stratton by 11,438.5% in the second quarter. Whittier Trust Co. now owns 6,000 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 5,948 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Briggs & Stratton in the second quarter valued at about $175,000. Jolley Asset Management LLC acquired a new stake in shares of Briggs & Stratton in the second quarter valued at about $234,000. A.R.T. Advisors LLC acquired a new stake in shares of Briggs & Stratton in the first quarter valued at about $252,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Briggs & Stratton in the first quarter valued at about $255,000. Institutional investors and hedge funds own 81.92% of the company’s stock.
In related news, insider Todd J. Teske sold 87,398 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $20.91, for a total transaction of $1,827,492.18. Following the sale, the insider now owns 453,723 shares in the company, valued at $9,487,347.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.30% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Tuesday, December 18th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, December 17th. This represents a $0.56 annualized dividend and a yield of 4.18%. Briggs & Stratton’s dividend payout ratio is presently 43.41%.
Briggs & Stratton Company Profile
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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