Analysts Anticipate Briggs & Stratton Co. (BGG) Will Post Quarterly Sales of $463.90 Million
Equities analysts predict that Briggs & Stratton Co. (NYSE:BGG) will report $463.90 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Briggs & Stratton’s earnings, with estimates ranging from $460.00 million to $470.60 million. Briggs & Stratton reported sales of $446.44 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The firm is expected to announce its next quarterly earnings results on Wednesday, January 23rd.
According to Zacks, analysts expect that Briggs & Stratton will report full-year sales of $1.95 billion for the current fiscal year. For the next year, analysts anticipate that the company will post sales of $2.03 billion, with estimates ranging from $2.00 billion to $2.06 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Briggs & Stratton.
Briggs & Stratton (NYSE:BGG) last issued its earnings results on Thursday, October 25th. The industrial products company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.04). Briggs & Stratton had a positive return on equity of 8.46% and a negative net margin of 2.04%. The company had revenue of $279.00 million for the quarter, compared to the consensus estimate of $297.80 million.
In other news, Director Frank M. Jaehnert bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The shares were acquired at an average price of $13.73 per share, with a total value of $68,650.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $205,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Briggs & Stratton by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,281,700 shares of the industrial products company’s stock valued at $82,337,000 after buying an additional 55,070 shares during the last quarter. Morgan Stanley raised its position in Briggs & Stratton by 100.4% in the 3rd quarter. Morgan Stanley now owns 394,040 shares of the industrial products company’s stock valued at $7,576,000 after buying an additional 197,426 shares during the last quarter. Legal & General Group Plc raised its position in Briggs & Stratton by 6.6% in the 3rd quarter. Legal & General Group Plc now owns 100,521 shares of the industrial products company’s stock valued at $1,937,000 after buying an additional 6,264 shares during the last quarter. Teachers Advisors LLC raised its position 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 valued at $1,617,000 after buying an additional 4,254 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its position in Briggs & Stratton by 57.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 30,468 shares of the industrial products company’s stock valued at $586,000 after buying an additional 11,121 shares during the last quarter. 83.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE BGG traded down $0.24 during mid-day trading on Tuesday, reaching $13.79. 131,252 shares of the company’s stock were exchanged, compared to its average volume of 365,967. The firm has a market cap of $616.33 million, a P/E ratio of 10.69 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 0.44. Briggs & Stratton has a twelve month low of $13.33 and a twelve month high of $27.34.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 18th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Monday, December 17th. Briggs & Stratton’s dividend payout ratio is currently 43.41%.
About Briggs & Stratton
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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