Shares of Brink’s Company (The) (NYSE:BCO) reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $76.10 and last traded at $77.10, with a volume of 711,533 shares trading hands. The stock had previously closed at $70.70.
The business services provider reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.18. Brink’s Company (The) had a net margin of 2.73% and a return on equity of 34.49%. The business had revenue of $806 million for the quarter, compared to analysts’ expectations of $730.87 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, July 27th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Tuesday, July 25th. Brink’s Company (The)’s dividend payout ratio (DPR) is 35.71%.
Brink’s Company (The) declared that its board has authorized a share buyback plan on Monday, May 8th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
A number of research firms have weighed in on BCO. Imperial Capital upgraded shares of Brink’s Company (The) from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $72.00 to $86.00 in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Brink’s Company (The) from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Brink’s Company (The) currently has a consensus rating of “Buy” and an average price target of $64.00.
In related news, Director Peter A. Feld sold 86,151 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $78.18, for a total value of $6,735,285.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter A. Feld sold 400,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $63.27, for a total transaction of $25,308,000.00. The disclosure for this sale can be found here. Insiders have sold 1,087,725 shares of company stock valued at $72,847,227 over the last three months. Insiders own 10.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in BCO. Castleark Management LLC raised its stake in Brink’s Company (The) by 9.6% in the second quarter. Castleark Management LLC now owns 157,813 shares of the business services provider’s stock worth $10,573,000 after buying an additional 13,823 shares during the period. Tower Research Capital LLC TRC raised its stake in Brink’s Company (The) by 285.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,540 shares of the business services provider’s stock worth $103,000 after buying an additional 1,140 shares during the period. The Manufacturers Life Insurance Company raised its stake in Brink’s Company (The) by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 35,406 shares of the business services provider’s stock worth $2,372,000 after buying an additional 635 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Brink’s Company (The) by 16.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 111,041 shares of the business services provider’s stock worth $7,440,000 after buying an additional 15,900 shares during the period. Finally, State Street Corp raised its stake in Brink’s Company (The) by 1.0% in the second quarter. State Street Corp now owns 1,144,733 shares of the business services provider’s stock worth $76,699,000 after buying an additional 10,783 shares during the period. 89.47% of the stock is owned by institutional investors.
The firm has a 50 day moving average price of $72.07 and a 200-day moving average price of $60.58. The firm has a market capitalization of $3.83 billion, a P/E ratio of 45.15 and a beta of 1.71.
Brink’s Company (The) Company Profile
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company operates through nine segments: U.S., France, Mexico, Brazil, Canada, Latin America, EMEA, Asia and Payment Services. The Company’s solutions include cash-in-transit (CIT), automated teller machine (ATM) replenishment and maintenance, cash management services, including vault outsourcing, money processing, and intelligent safe services, international transportation of valuables, and payment services.
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