Analysts expect that Briggs & Stratton Co. (NYSE:BGG) will report $523.33 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Briggs & Stratton’s earnings, with the highest sales estimate coming in at $538.00 million and the lowest estimate coming in at $510.50 million. Briggs & Stratton posted sales of $501.69 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The firm is expected to announce its next earnings report on Wednesday, August 21st.
According to Zacks, analysts expect that Briggs & Stratton will report full year sales of $1.89 billion for the current fiscal year, with estimates ranging from $1.88 billion to $1.90 billion. For the next fiscal year, analysts expect that the business will post sales of $2.00 billion, with estimates ranging from $1.98 billion to $2.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Briggs & Stratton.
Briggs & Stratton (NYSE:BGG) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.32). The company had revenue of $580.20 million during the quarter, compared to analysts’ expectations of $575.35 million. Briggs & Stratton had a positive return on equity of 4.22% and a negative net margin of 2.54%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS.
Several institutional investors have recently modified their holdings of BGG. Rhumbline Advisers raised its holdings in shares of Briggs & Stratton by 19.5% during the fourth quarter. Rhumbline Advisers now owns 123,698 shares of the industrial products company’s stock worth $1,618,000 after purchasing an additional 20,159 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of Briggs & Stratton during the fourth quarter worth $211,000. Piedmont Investment Advisors Inc. purchased a new position in shares of Briggs & Stratton during the fourth quarter worth $132,000. Prudential Financial Inc. raised its holdings in shares of Briggs & Stratton by 13.2% during the fourth quarter. Prudential Financial Inc. now owns 188,747 shares of the industrial products company’s stock worth $2,469,000 after purchasing an additional 22,020 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Briggs & Stratton by 7.7% during the fourth quarter. California Public Employees Retirement System now owns 161,363 shares of the industrial products company’s stock worth $2,111,000 after purchasing an additional 11,606 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
NYSE BGG opened at $10.24 on Friday. The business has a fifty day moving average of $10.12. The stock has a market capitalization of $430.67 million, a PE ratio of 7.94 and a beta of 1.07. Briggs & Stratton has a 12-month low of $9.35 and a 12-month high of $21.40. The company has a current ratio of 1.34, a quick ratio of 0.50 and a debt-to-equity ratio of 0.39.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 19th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.47%. Briggs & Stratton’s dividend payout ratio is currently 43.41%.
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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