Research Analysts Set Expectations for Briggs & Stratton Corporation’s Q3 2018 Earnings (NYSE:BGG)

Briggs & Stratton Corporation (NYSE:BGG) – Stock analysts at Northcoast Research increased their Q3 2018 earnings per share (EPS) estimates for shares of Briggs & Stratton Corporation in a note issued to investors on Friday, Zacks Investment Research reports. Northcoast Research analyst T. Hayes now anticipates that the industrial products company will post earnings of $1.03 per share for the quarter, up from their prior forecast of $1.01. Northcoast Research also issued estimates for Briggs & Stratton Corporation’s Q4 2018 earnings at $0.56 EPS and Q4 2019 earnings at $0.69 EPS.

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

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BGG has been the topic of several other research reports. Zacks Investment Research downgraded Briggs & Stratton Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Briggs & Stratton Corporation in a research report on Tuesday, October 17th. They noted that the move was a valuation call. BidaskClub raised Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Finally, ValuEngine downgraded Briggs & Stratton Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company. Briggs & Stratton Corporation presently has an average rating of “Hold” and a consensus target price of $26.50.

Briggs & Stratton Corporation (BGG) opened at $24.66 on Monday. The firm has a market capitalization of $1,040.70, a P/E ratio of 17.72 and a beta of 0.79. The company has a current ratio of 1.82, a quick ratio of 0.70 and a debt-to-equity ratio of 0.41. Briggs & Stratton Corporation has a 12-month low of $20.00 and a 12-month high of $25.95.

Several hedge funds and other institutional investors have recently modified their holdings of BGG. Public Employees Retirement System of Ohio lifted its stake in shares of Briggs & Stratton Corporation by 3.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 263 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Briggs & Stratton Corporation during the 2nd quarter worth $181,000. SG Americas Securities LLC lifted its stake in shares of Briggs & Stratton Corporation by 12.3% during the 2nd quarter. SG Americas Securities LLC now owns 8,157 shares of the industrial products company’s stock worth $197,000 after purchasing an additional 895 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Briggs & Stratton Corporation by 76.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,403 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 3,653 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of 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 purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 83.96% of the company’s stock.

In other Briggs & Stratton Corporation news, insider Todd J. Teske sold 5,830 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $20.68, for a total value of $120,564.40. Following the completion of the sale, the insider now directly owns 379,417 shares in the company, valued at approximately $7,846,343.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William H. Reitman sold 7,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $20.69, for a total value of $144,830.00. The disclosure for this sale can be found here. Insiders sold a total of 110,004 shares of company stock worth $2,626,219 in the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, December 14th. Briggs & Stratton Corporation’s dividend payout ratio (DPR) is presently 43.75%.

About Briggs & Stratton Corporation

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.

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

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