Brink's (BCO) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Brink's (NYSE:BCO) from a buy rating to a hold rating in a report issued on Friday.
According to Zacks, “The Brink’s Company provides secure transportation, cash management services, and other security-related services worldwide. The company offers cash-in-transit services, including armoured vehicle transportation of valuables; automated teller machine (ATM) services, such as cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation services, and first and second line maintenance; and network infrastructure services. It also provides transportation services for valued commodities, including diamonds, jewellery, precious metals, securities, currency, high-tech devices, electronics, and pharmaceuticals; and cash management services, such as money processing, deploying and servicing intelligent safes and safe control devices, integrated check and cash processing services, and check imaging services, as well as cashier balancing, counterfeit detection, account consolidation, and electronic reporting services. “
A number of other research analysts have also recently issued reports on the company. ValuEngine cut Brink's from a buy rating to a hold rating in a report on Friday, December 1st. Sidoti started coverage on Brink's in a report on Friday, October 20th. They issued a buy rating for the company. SunTrust Banks reaffirmed a buy rating and issued a $98.00 price target on shares of Brink's in a report on Wednesday, October 18th. Finally, Imperial Capital lifted their price target on Brink's from $86.00 to $100.00 and gave the company an outperform rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $97.25.
Brink's (NYSE:BCO) last released its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.08. Brink's had a return on equity of 35.15% and a net margin of 2.51%. The business had revenue of $849.50 million during the quarter, compared to analysts’ expectations of $841.57 million. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. research analysts predict that Brink's will post 2.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 8th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $0.60 annualized dividend and a yield of 0.70%. Brink's’s dividend payout ratio is currently 37.97%.
In other news, CEO Douglas A. Pertz acquired 1,280 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was purchased at an average cost of $78.00 per share, with a total value of $99,840.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George I. Stoeckert acquired 1,000 shares of the company’s stock in a transaction on Friday, December 8th. The shares were purchased at an average cost of $80.40 per share, with a total value of $80,400.00. Following the completion of the acquisition, the director now directly owns 12,014 shares in the company, valued at approximately $965,925.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,850 shares of company stock valued at $1,461,348 over the last three months. Company insiders own 10.40% of the company’s stock.
Large investors have recently made changes to their positions in the business. Cypress Capital Management LLC WY bought a new stake in Brink's during the 3rd quarter worth about $122,000. Meeder Asset Management Inc. bought a new stake in Brink's during the 3rd quarter worth about $128,000. Tower Research Capital LLC TRC raised its holdings in Brink's by 285.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,540 shares of the business services provider’s stock worth $103,000 after purchasing an additional 1,140 shares during the last quarter. Riverhead Capital Management LLC grew its position in shares of Brink's by 51.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,429 shares of the business services provider’s stock worth $163,000 after buying an additional 829 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Brink's by 493.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,678 shares of the business services provider’s stock worth $180,000 after buying an additional 2,227 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company operates through nine segments: U.S., France, Mexico, Brazil, Canada, Latin America, EMEA, Asia and Payment Services. The Company’s solutions include cash-in-transit (CIT), automated teller machine (ATM) replenishment and maintenance, cash management services, including vault outsourcing, money processing, and intelligent safe services, international transportation of valuables, and payment services.
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