Brady (NYSE:BRC) Updates FY24 Earnings Guidance

Brady (NYSE:BRC) issued an update on its FY24 earnings guidance on Wednesday morning. 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 Stock Up 8.5 %

Shares of NYSE:BRC traded up $5.12 during midday trading on Wednesday, hitting $65.39. 50,304 shares of the stock were exchanged, compared to its average volume of 318,094. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.13. Brady has a 52-week low of $46.77 and a 52-week high of $65.67. The business’s fifty day simple moving average is $59.39 and its two-hundred day simple moving average is $58.66. The company has a market capitalization of $3.16 billion, a PE ratio of 17.00, a P/E/G ratio of 2.16 and a beta of 0.76.

Brady (NYSE:BRC) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. Brady had a return on equity of 19.24% and a net margin of 14.08%. The business had revenue of $322.60 million during the quarter, compared to analyst estimates of $339.61 million. During the same period last year, the company earned $0.81 earnings per share. Brady’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, research analysts predict that Brady will post 4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Elizabeth P. Bruno sold 2,415 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $60.01, for a total value of $144,924.15. Following the sale, the director now directly owns 326,178 shares of the company’s stock, valued at $19,573,941.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Elizabeth P. Bruno sold 8,322 shares of Brady stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $57.33, for a total transaction of $477,100.26. Following the sale, the director now directly owns 333,593 shares of the company’s stock, valued at $19,124,886.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Elizabeth P. Bruno sold 2,415 shares of Brady stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $60.01, for a total value of $144,924.15. Following the sale, the director now directly owns 326,178 shares in the company, valued at $19,573,941.78. The disclosure for this sale can be found here. Insiders have sold 39,017 shares of company stock valued at $2,283,667 over the last three months. 15.60% of the stock is currently owned by insiders.

Brady Company Profile

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.