Briggs & Stratton Co. (NYSE:BGG) – Northcoast Research increased their FY2019 earnings per share (EPS) estimates for Briggs & Stratton in a research report issued on Monday, October 29th. Northcoast Research analyst T. Hayes now anticipates that the industrial products company will post earnings of $1.52 per share for the year, up from their previous forecast of $1.47. Northcoast Research has a “Buy” rating and a $25.00 price objective on the stock. Northcoast Research also issued estimates for Briggs & Stratton’s Q1 2020 earnings at ($0.58) EPS.
A number of other equities analysts have also recently weighed in on BGG. Zacks Investment Research raised shares of Briggs & Stratton from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Tuesday. Sidoti cut shares of Briggs & Stratton from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Thursday, July 19th. Finally, ValuEngine cut shares of Briggs & Stratton from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $20.75.
Briggs & Stratton (NYSE:BGG) last released its quarterly earnings data on Thursday, October 25th. The industrial products company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.04). The business had revenue of $279.00 million during 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%.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 18th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.56 dividend on an annualized basis and a yield of 4.06%. Briggs & Stratton’s dividend payout ratio (DPR) is presently 43.41%.
In other Briggs & Stratton news, insider Todd J. Teske sold 87,398 shares of the stock in a transaction that occurred 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 directly owns 453,723 shares in the company, valued at approximately $9,487,347.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. 6.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC lifted its holdings in Briggs & Stratton by 7.7% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,093,544 shares of the industrial products company’s stock worth $21,029,000 after buying an additional 78,255 shares in the last quarter. Cardinal Capital Management acquired a new stake in Briggs & Stratton during the 3rd quarter worth approximately $596,000. First Trust Advisors LP acquired a new stake in Briggs & Stratton during the 3rd quarter worth approximately $3,228,000. Foundry Partners LLC lifted its holdings in Briggs & Stratton by 2.3% during the 3rd quarter. Foundry Partners LLC now owns 238,552 shares of the industrial products company’s stock worth $4,587,000 after buying an additional 5,462 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Briggs & Stratton by 0.4% during the 2nd quarter. Northern Trust Corp now owns 902,584 shares of the industrial products company’s stock worth $15,894,000 after buying an additional 3,686 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.
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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