-$0.45 EPS Expected for Briggs & Stratton Co. (BGG) This Quarter
Analysts expect Briggs & Stratton Co. (NYSE:BGG) to post earnings per share (EPS) of ($0.45) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Briggs & Stratton’s earnings, with estimates ranging from ($0.48) to ($0.43). Briggs & Stratton reported earnings per share of ($0.27) during the same quarter last year, which would indicate a negative year-over-year growth rate of 66.7%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, October 25th.
According to Zacks, analysts expect that Briggs & Stratton will report full year earnings of $1.45 per share for the current financial year, with EPS estimates ranging from $1.42 to $1.47. For the next financial year, analysts expect that the business will post earnings of $1.73 per share, with EPS estimates ranging from $1.68 to $1.75. Zacks Investment Research’s earnings per share 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 data on Wednesday, August 15th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Briggs & Stratton had a negative net margin of 0.60% and a positive return on equity of 10.13%. The business had revenue of $501.69 million for the quarter, compared to analyst estimates of $495.83 million. During the same quarter last year, the firm earned $0.46 EPS. Briggs & Stratton’s quarterly revenue was up 5.8% compared to the same quarter last year.
In other Briggs & Stratton news, insider Todd J. Teske sold 87,398 shares of Briggs & Stratton stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $20.91, for a total value of $1,827,492.18. Following the transaction, the insider now owns 453,723 shares of the company’s stock, valued at $9,487,347.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BGG. Northern Trust Corp raised its holdings in shares of Briggs & Stratton by 1.3% in the first quarter. Northern Trust Corp now owns 898,898 shares of the industrial products company’s stock valued at $19,245,000 after purchasing an additional 11,337 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Briggs & Stratton by 123.1% in the first quarter. Hsbc Holdings PLC now owns 20,521 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 11,323 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Briggs & Stratton by 177.6% in the first quarter. Russell Investments Group Ltd. now owns 152,565 shares of the industrial products company’s stock valued at $3,266,000 after purchasing an additional 97,600 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Briggs & Stratton by 2.5% in the first quarter. Principal Financial Group Inc. now owns 328,914 shares of the industrial products company’s stock valued at $7,042,000 after purchasing an additional 8,177 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Briggs & Stratton by 31.0% in the first quarter. Allianz Asset Management GmbH now owns 69,138 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 16,367 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.
BGG traded down $0.23 during trading on Monday, reaching $16.91. The company had a trading volume of 316,388 shares, compared to its average volume of 250,201. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 1.77. Briggs & Stratton has a 12 month low of $16.26 and a 12 month high of $27.34. The firm has a market cap of $726.52 million, a P/E ratio of 13.11 and a beta of 0.65.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Monday, September 17th. Briggs & Stratton’s payout ratio is currently 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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