Northcoast Research Weighs in on Briggs & Stratton Corporation’s Q2 2019 Earnings (BGG)

Briggs & Stratton Corporation (NYSE:BGG) – Research analysts at Northcoast Research lifted their Q2 2019 earnings estimates for Briggs & Stratton Corporation in a report issued on Friday. Northcoast Research analyst T. Hayes now expects that the industrial products company will post earnings per share of $0.35 for the quarter, up from their prior forecast of $0.31. Northcoast Research also issued estimates for Briggs & Stratton Corporation’s Q3 2019 earnings at $1.20 EPS, Q4 2019 earnings at $0.67 EPS and FY2019 earnings at $1.78 EPS.

Briggs & Stratton Corporation (NYSE:BGG) last posted its earnings results on Wednesday, October 25th. The industrial products company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.08. The firm had revenue of $329.10 million during the quarter, compared to the consensus estimate of $295.84 million. Briggs & Stratton Corporation had a net margin of 3.05% and a return on equity of 11.38%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.34) earnings per share.

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Several other equities analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Briggs & Stratton Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Briggs & Stratton Corporation in a research note on Tuesday, October 17th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Briggs & Stratton Corporation currently has a consensus rating of “Hold” and an average target price of $25.50.

Briggs & Stratton Corporation (BGG) traded up 1.14% during trading on Monday, hitting $24.86. 59,964 shares of the stock traded hands. Briggs & Stratton Corporation has a 52-week low of $17.90 and a 52-week high of $25.95. The company has a market cap of $1.06 billion, a P/E ratio of 18.98 and a beta of 0.72. The firm has a 50-day moving average price of $23.37 and a 200 day moving average price of $23.39.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, December 14th. Briggs & Stratton Corporation’s dividend payout ratio (DPR) is presently 43.75%.

In other Briggs & Stratton Corporation news, SVP William H. Reitman sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $20.69, for a total transaction of $144,830.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Todd J. Teske sold 5,830 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $20.68, for a total transaction of $120,564.40. Following the sale, the insider now owns 379,417 shares in the company, valued at approximately $7,846,343.56. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund raised its stake in Briggs & Stratton Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 31,232 shares of the industrial products company’s stock worth $753,000 after acquiring an additional 239 shares during the period. LSV Asset Management raised its stake in Briggs & Stratton Corporation by 0.9% during the 2nd quarter. LSV Asset Management now owns 2,177,517 shares of the industrial products company’s stock worth $52,478,000 after acquiring an additional 18,700 shares during the period. Principal Financial Group Inc. raised its stake in Briggs & Stratton Corporation by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 325,366 shares of the industrial products company’s stock worth $7,304,000 after acquiring an additional 2,183 shares during the period. Federated Investors Inc. PA raised its stake in Briggs & Stratton Corporation by 7.2% during the 2nd quarter. Federated Investors Inc. PA now owns 115,288 shares of the industrial products company’s stock worth $2,778,000 after acquiring an additional 7,761 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in Briggs & Stratton Corporation by 1.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,780 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 180 shares during the period. Institutional investors own 83.02% of the company’s stock.

Briggs & Stratton Corporation Company Profile

Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.

Earnings History and Estimates for Briggs & Stratton Corporation (NYSE:BGG)

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