Brokerages expect Briggs & Stratton Co. (NYSE:BGG) to report earnings per share (EPS) of $0.87 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Briggs & Stratton’s earnings. The lowest EPS estimate is $0.75 and the highest is $1.07. Briggs & Stratton reported earnings of $0.84 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 3.6%. The firm is expected to announce its next earnings results on Wednesday, April 24th.
On average, analysts expect that Briggs & Stratton will report full year earnings of $1.25 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.45. For the next fiscal year, analysts forecast that the firm will report earnings of $1.61 per share, with EPS estimates ranging from $1.48 to $1.68. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Briggs & Stratton.
Get Briggs & Stratton alerts:Briggs & Stratton (NYSE:BGG) last posted its earnings results on Wednesday, January 23rd. The industrial products company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). The business had revenue of $505.50 million for the quarter, compared to the consensus estimate of $461.71 million. Briggs & Stratton had a positive return on equity of 8.12% and a negative net margin of 1.24%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share.
Several research firms have weighed in on BGG. Zacks Investment Research lowered Briggs & Stratton from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 29th. Sidoti cut their price target on Briggs & Stratton from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, December 6th. ValuEngine lowered Briggs & Stratton from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. Finally, Robert W. Baird set a $14.00 price target on Briggs & Stratton and gave the company a “hold” rating in a report on Friday, January 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Briggs & Stratton currently has a consensus rating of “Hold” and a consensus price target of $17.50.
BGG stock traded up $0.16 during midday trading on Friday, hitting $13.22. 304,652 shares of the company’s stock were exchanged, compared to its average volume of 534,419. The company has a current ratio of 1.31, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39. The firm has a market cap of $549.05 million, a PE ratio of 10.25 and a beta of 0.93. Briggs & Stratton has a one year low of $11.34 and a one year high of $23.10.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Tuesday, March 19th will be issued a $0.14 dividend. The ex-dividend date is Monday, March 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.24%. Briggs & Stratton’s dividend payout ratio (DPR) is 43.41%.
In other news, Director Frank M. Jaehnert purchased 10,000 shares of the business’s stock in a transaction dated Monday, January 28th. The shares were bought at an average cost of $12.04 per share, for a total transaction of $120,400.00. Following the completion of the acquisition, the director now directly owns 25,000 shares in the company, valued at approximately $301,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.30% of the company’s stock.
Several institutional investors have recently modified their holdings of BGG. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Briggs & Stratton in the fourth quarter valued at about $158,000. Metropolitan Life Insurance Co. NY increased its position in shares of Briggs & Stratton by 336.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,426 shares of the industrial products company’s stock valued at $189,000 after acquiring an additional 11,121 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Briggs & Stratton by 39.5% in the fourth quarter. Squarepoint Ops LLC now owns 25,464 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 7,207 shares during the last quarter. RBF Capital LLC acquired a new stake in shares of Briggs & Stratton in the fourth quarter valued at about $204,000. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Briggs & Stratton by 50.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 211,829 shares of the industrial products company’s stock valued at $2,771,000 after acquiring an additional 71,347 shares during the last quarter. Institutional investors own 84.96% of the company’s stock.
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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