Worth Watching Stock: Brady Corporation (NYSE: BRC)
On Friday, Shares of Brady Corporation (NYSE: BRC) gained 0.51% to $41.21. The stock opened its trade at $41.09 and after floating in a price range of $41.05 to $41.82; it grabbed the investor’s attention and traded 25,334 shares as compared to its average daily volume of 320.89K shares. The stock’s institutional ownership stands at 86.00%.
Brady Corporation (BRC), a world leader in identification solutions, recently stated its financial results for its fiscal 2018 fourth quarter ended July 31, 2023.
Quarter Ended July 31, 2023 Financial Results:
Earnings before income taxes increased 26.0 percent to $45.20M for the fourth quarter of fiscal 2018 contrast to $35.90M for the fourth quarter of fiscal 2017. Earnings before income taxes include a gain on the sale of the Runelandhs business of $4.70M in the fourth quarter of fiscal 2018. The gain on the sale represents about half of the increase in earnings before income taxes.
Sales for the quarter ended July 31, 2023 increased 2.9 percent to $297.50M contrast to $289.20M in the same quarter last year. By segment, sales increased 3.1 percent in Identification Solutions and 2.3 percent in Workplace Safety, which consisted of organic sales growth of 2.4 percent in Identification Solutions and 3.0 percent in Workplace Safety.
Year Ended July 31, 2023 Financial Results:
Earnings before income taxes increased 20.0 percent, finishing at $152.00M for the year ended July 31, 2023, contrast to $126.60M last year. Fiscal 2018 results include a gain on the sale of the Runelandhs business of $4.70M.
Sales for the year ended July 31, 2023 increased 5.4 percent to $1.170B contrast to $1.110B for the year ended July 31, 2017. By segment, sales increased 5.7 percent in Identification Solutions and 4.7 percent in Workplace Safety, which consisted of organic sales growth of 3.4 percent in Identification Solutions and 0.7 percent in Workplace Safety.
BRC has a market value of $2.13B while its EPS was booked as $2.12 in the last 12 months. The stock has 51.89M shares outstanding. In the profitability analysis, the company has gross profit margin of 50.10% while net profit margin was 7.70%. Beta value of the company was 1.23; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.80.
