Brady (NYSE:BRC) Updates FY24 Earnings Guidance

Brady (NYSE:BRC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.08-$4.15 for the period, compared to the consensus earnings per share estimate of $4.04. Brady also updated its FY 2024 guidance to 4.080-4.150 EPS.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Brady from a strong-buy rating to a buy rating in a research note on Monday, February 26th.

Brady Price Performance

Shares of Brady stock opened at $68.17 on Friday. The company has a 50-day simple moving average of $59.98 and a two-hundred day simple moving average of $58.89. Brady has a twelve month low of $46.77 and a twelve month high of $68.80. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The company has a quick ratio of 1.44, a current ratio of 2.06 and a debt-to-equity ratio of 0.06.

Brady (NYSE:BRC) last announced its quarterly earnings data on Wednesday, May 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. Brady had a net margin of 14.22% and a return on equity of 19.61%. The firm had revenue of $343.40 million for the quarter, compared to the consensus estimate of $339.80 million. During the same period in the prior year, the company posted $0.95 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts forecast that Brady will post 4 EPS for the current year.

Brady Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Wednesday, July 10th. Brady’s dividend payout ratio is presently 23.98%.

Insider Buying and Selling

In other news, Director Elizabeth P. Bruno sold 8,322 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $57.33, for a total value of $477,100.26. Following the completion of the transaction, the director now owns 333,593 shares of the company’s stock, valued at $19,124,886.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Nancy Lee Gioia sold 4,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $59.20, for a total transaction of $251,600.00. Following the transaction, the director now owns 11,551 shares in the company, valued at $683,819.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth P. Bruno sold 8,322 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $57.33, for a total value of $477,100.26. Following the completion of the transaction, the director now owns 333,593 shares in the company, valued at approximately $19,124,886.69. The disclosure for this sale can be found here. Insiders sold a total of 39,017 shares of company stock worth $2,283,667 in the last three months. 15.60% of the stock is owned by corporate insiders.

About Brady

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 company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.