Brink’s (NYSE:BCO) Reaches New 1-Year High on Strong Earnings

Shares of The Brink’s Company (NYSE:BCO) hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $98.31 and last traded at $94.76, with a volume of 116440 shares trading hands. The stock had previously closed at $90.99.

The business services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.29. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.21 billion. Brink’s had a return on equity of 55.36% and a net margin of 1.77%. Brink’s’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 EPS.

Brink’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be issued a dividend of $0.243 per share. This is a positive change from Brink’s’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, May 10th. This represents a $0.97 annualized dividend and a dividend yield of 1.01%. Brink’s’s dividend payout ratio (DPR) is presently 53.30%.

Wall Street Analyst Weigh In

BCO has been the subject of a number of recent research reports. TheStreet downgraded Brink’s from a “b” rating to a “c+” rating in a research note on Wednesday, March 13th. The Goldman Sachs Group upped their target price on shares of Brink’s from $98.00 to $103.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Truist Financial increased their target price on Brink’s from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th.

Insider Buying and Selling

In other news, Director Keith R. Wyche sold 400 shares of Brink’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.37, for a total transaction of $32,948.00. Following the sale, the director now directly owns 665 shares of the company’s stock, valued at $54,776.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Brink’s

Several large investors have recently added to or reduced their stakes in BCO. Blue Trust Inc. increased its holdings in shares of Brink’s by 60.3% in the 4th quarter. Blue Trust Inc. now owns 375 shares of the business services provider’s stock worth $33,000 after acquiring an additional 141 shares during the period. Covestor Ltd boosted its position in shares of Brink’s by 225.7% in the third quarter. Covestor Ltd now owns 495 shares of the business services provider’s stock worth $36,000 after buying an additional 343 shares during the period. HM Payson & Co. purchased a new stake in shares of Brink’s in the third quarter worth approximately $53,000. Quarry LP raised its holdings in Brink’s by 265.9% in the 4th quarter. Quarry LP now owns 805 shares of the business services provider’s stock worth $71,000 after acquiring an additional 585 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Brink’s in the 4th quarter valued at approximately $73,000. 94.96% of the stock is currently owned by institutional investors.

Brink’s Price Performance

The firm has a market cap of $4.32 billion, a P/E ratio of 53.08 and a beta of 1.39. The stock’s 50-day moving average is $87.83 and its 200-day moving average is $82.85. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 6.27.

Brink’s Company Profile

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.