Analysts forecast that Briggs & Stratton Co. (NYSE:BGG) will announce sales of $463.90 million for the current quarter, Zacks reports. Three analysts have provided estimates for Briggs & Stratton’s earnings. The highest sales estimate is $470.60 million and the lowest is $460.00 million. Briggs & Stratton reported sales of $446.44 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The firm is expected to report its next earnings results on Wednesday, January 23rd.
On average, analysts expect that Briggs & Stratton will report full year sales of $1.95 billion for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will report sales of $2.03 billion, with estimates ranging from $2.00 billion to $2.06 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Briggs & Stratton.
Briggs & Stratton (NYSE:BGG) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). Briggs & Stratton had a negative net margin of 2.04% and a positive return on equity of 8.46%. The firm had revenue of $279.00 million during the quarter, compared to the consensus estimate of $297.80 million.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Briggs & Stratton from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, October 30th. Sidoti lowered their price target on shares of Briggs & Stratton from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday. ValuEngine cut shares of Briggs & Stratton from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Finally, Northcoast Research restated a “buy” rating and issued a $25.00 price target on shares of Briggs & Stratton in a report on Friday, August 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.50.
In related news, Director Frank M. Jaehnert bought 5,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The stock was bought at an average cost of $13.73 per share, for a total transaction of $68,650.00. Following the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at $205,950. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in Briggs & Stratton by 0.4% in the 2nd quarter. Northern Trust Corp now owns 902,584 shares of the industrial products company’s stock worth $15,894,000 after purchasing an additional 3,686 shares in the last quarter. Teachers Advisors LLC boosted its stake in Briggs & Stratton by 5.3% in the 3rd quarter. Teachers Advisors LLC now owns 84,104 shares of the industrial products company’s stock worth $1,617,000 after purchasing an additional 4,254 shares in the last quarter. Aperio Group LLC raised its position in Briggs & Stratton by 32.3% during the 2nd quarter. Aperio Group LLC now owns 17,550 shares of the industrial products company’s stock worth $309,000 after buying an additional 4,286 shares during the last quarter. Legal & General Group Plc raised its position in Briggs & Stratton by 5.1% during the 2nd quarter. Legal & General Group Plc now owns 94,257 shares of the industrial products company’s stock worth $1,657,000 after buying an additional 4,542 shares during the last quarter. Finally, Foundry Partners LLC raised its position 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 during the last quarter. Institutional investors own 83.59% of the company’s stock.
Shares of NYSE:BGG traded down $0.16 during trading on Tuesday, reaching $13.87. The stock had a trading volume of 423,860 shares, compared to its average volume of 361,069. Briggs & Stratton has a one year low of $13.33 and a one year high of $27.34. The stock has a market capitalization of $587.94 million, a P/E ratio of 10.75 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.44 and a current ratio of 1.39.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Tuesday, December 18th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, December 17th. Briggs & Stratton’s dividend payout ratio (DPR) is presently 43.41%.
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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