Northcoast Research Weighs in on Briggs & Stratton Co.’s Q1 2020 Earnings (BGG)

Briggs & Stratton Co. (NYSE:BGG) – Analysts at Northcoast Research decreased their Q1 2020 EPS estimates for shares of Briggs & Stratton in a report issued on Monday, April 15th, according to Zacks Investment Research. Northcoast Research analyst T. Hayes now anticipates that the industrial products company will post earnings of ($0.48) per share for the quarter, down from their previous forecast of ($0.45). Northcoast Research also issued estimates for Briggs & Stratton’s FY2020 earnings at $1.67 EPS.

Other analysts also recently issued reports about the stock. ValuEngine raised shares of Briggs & Stratton from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 16th. Zacks Investment Research cut shares of Briggs & Stratton from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird set a $14.00 price objective on shares of Briggs & Stratton and gave the company a “hold” rating in a research report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.50.

Briggs & Stratton stock traded down $0.07 during mid-day trading on Wednesday, hitting $11.71. The company’s stock had a trading volume of 290,713 shares, compared to its average volume of 476,751. The company has a quick ratio of 0.50, a current ratio of 1.34 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $515.73 million, a PE ratio of 9.08 and a beta of 0.89. Briggs & Stratton has a 12 month low of $10.15 and a 12 month high of $21.40.

Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.32). The business had revenue of $580.20 million during the quarter, compared to the consensus estimate of $575.35 million. Briggs & Stratton had a positive return on equity of 4.22% and a negative net margin of 2.54%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 19th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Tuesday, June 18th. Briggs & Stratton’s payout ratio is 43.41%.

Hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund increased its position in shares of Briggs & Stratton by 3.1% during the first quarter. Texas Permanent School Fund now owns 28,589 shares of the industrial products company’s stock valued at $338,000 after buying an additional 850 shares during the period. Comerica Bank increased its position in shares of Briggs & Stratton by 2.6% during the first quarter. Comerica Bank now owns 41,969 shares of the industrial products company’s stock valued at $530,000 after buying an additional 1,051 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Briggs & Stratton by 2.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 60,955 shares of the industrial products company’s stock valued at $797,000 after buying an additional 1,400 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Briggs & Stratton by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,833 shares of the industrial products company’s stock valued at $194,000 after buying an additional 1,458 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Briggs & Stratton by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 344,140 shares of the industrial products company’s stock valued at $4,501,000 after buying an additional 1,885 shares during the period. Hedge funds and other institutional investors own 87.61% 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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Earnings History and Estimates for Briggs & Stratton (NYSE:BGG)

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