Briggs & Stratton Co. (NYSE:BGG) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $1.31-1.46 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.37. The company issued revenue guidance of $1.86-1.90 billion, compared to the consensus revenue estimate of $1.86 billion.
A number of research analysts have recently issued reports on the stock. Northcoast Research upgraded shares of Briggs & Stratton Co. from a neutral rating to a buy rating and set a $25.00 price target on the stock in a research report on Monday, January 30th. They noted that the move was a valuation call. TheStreet upgraded shares of Briggs & Stratton Co. from a c+ rating to a b rating in a research report on Tuesday, February 21st. Finally, Zacks Investment Research downgraded shares of Briggs & Stratton Co. from a buy rating to a hold rating in a research report on Wednesday, April 26th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Briggs & Stratton Co. has a consensus rating of Hold and a consensus price target of $24.67.
Briggs & Stratton Co. (NYSE:BGG) opened at 23.57 on Friday. The firm has a market cap of $1.01 billion, a P/E ratio of 24.10 and a beta of 0.82. The company’s 50 day moving average is $23.34 and its 200-day moving average is $21.95. Briggs & Stratton Co. has a 52-week low of $17.90 and a 52-week high of $25.92.
Briggs & Stratton Co. (NYSE:BGG) last issued its quarterly earnings data on Thursday, April 20th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $597 million during the quarter, compared to analysts’ expectations of $617.01 million. Briggs & Stratton Co. had a return on equity of 11.27% and a net margin of 1.83%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. On average, equities analysts predict that Briggs & Stratton Co. will post $1.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, June 14th. Briggs & Stratton Co.’s dividend payout ratio (DPR) is currently 75.68%.
In related news, SVP Harold L. Redman sold 22,530 shares of the company’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $21.84, for a total transaction of $492,055.20. Following the completion of the sale, the senior vice president now directly owns 92,009 shares in the company, valued at approximately $2,009,476.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrea L. Golvach sold 4,106 shares of the company’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $24.90, for a total value of $102,239.40. Following the sale, the vice president now owns 19,659 shares of the company’s stock, valued at $489,509.10. The disclosure for this sale can be found here. Insiders have sold a total of 43,986 shares of company stock valued at $1,026,657 over the last 90 days. 4.70% of the stock is currently owned by company insiders.
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An institutional investor recently raised its position in Briggs & Stratton Co. stock. Teachers Advisors LLC raised its position in shares of Briggs & Stratton Co. (NYSE:BGG) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,676 shares of the industrial products company’s stock after buying an additional 2,293 shares during the period. Teachers Advisors LLC owned 0.20% of Briggs & Stratton Co. worth $1,879,000 as of its most recent SEC filing. Institutional investors and hedge funds own 89.46% of the company’s stock.
Briggs & Stratton Co. Company Profile
Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.
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