Brokerages Anticipate Briggs & Stratton Corporation (BGG) Will Post Quarterly Sales of $546.00 Million

Equities research analysts predict that Briggs & Stratton Corporation (NYSE:BGG) will post sales of $546.00 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Briggs & Stratton Corporation’s earnings. The highest sales estimate is $556.90 million and the lowest is $527.10 million. Briggs & Stratton Corporation reported sales of $502.19 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.7%. The company is expected to announce its next earnings results after the market closes on Wednesday, August 16th.

According to Zacks, analysts expect that Briggs & Stratton Corporation will report full-year sales of $546.00 million for the current year, with estimates ranging from $1.84 billion to $1.87 billion. For the next financial year, analysts forecast that the business will post sales of $1.90 billion per share, with estimates ranging from $1.87 billion to $1.92 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Briggs & Stratton Corporation.

Briggs & Stratton Corporation (NYSE:BGG) last issued its quarterly earnings data on Thursday, April 20th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Briggs & Stratton Corporation had a net margin of 2.33% and a return on equity of 11.69%. The business had revenue of $597 million for the quarter, compared to analyst estimates of $617.01 million. During the same period last year, the business posted $0.80 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis.

Several analysts have recently commented on the stock. TheStreet upgraded shares of Briggs & Stratton Corporation from a “c+” rating to a “b” rating in a report on Tuesday, February 21st. Zacks Investment Research upgraded shares of Briggs & Stratton Corporation from a “sell” rating to a “hold” rating in a report on Monday, February 27th.

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In other news, SVP William H. Reitman sold 17,350 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $24.92, for a total value of $432,362.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrea L. Golvach sold 4,106 shares of the stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $24.90, for a total transaction of $102,239.40. Following the completion of the sale, the vice president now owns 19,659 shares of the company’s stock, valued at approximately $489,509.10. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in BGG. Guggenheim Capital LLC increased its stake in shares of Briggs & Stratton Corporation by 30.8% in the fourth quarter. Guggenheim Capital LLC now owns 100,886 shares of the industrial products company’s stock valued at $2,245,000 after buying an additional 23,769 shares in the last quarter. Wexford Capital LP purchased a new stake in shares of Briggs & Stratton Corporation during the fourth quarter valued at approximately $492,000. Two Sigma Investments LP purchased a new stake in shares of Briggs & Stratton Corporation during the fourth quarter valued at approximately $996,000. Envestnet Asset Management Inc. increased its stake in shares of Briggs & Stratton Corporation by 26.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 30,679 shares of the industrial products company’s stock valued at $683,000 after buying an additional 6,363 shares in the last quarter. Finally, First Allied Advisory Services Inc. purchased a new stake in shares of Briggs & Stratton Corporation during the fourth quarter valued at approximately $234,000. Institutional investors own 85.50% of the company’s stock.

Shares of Briggs & Stratton Corporation (NYSE:BGG) traded down 1.02% during midday trading on Friday, hitting $24.17. 138,676 shares of the company were exchanged. The firm’s 50 day moving average price is $24.33 and its 200 day moving average price is $22.57. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 24.71 and a beta of 0.71. Briggs & Stratton Corporation has a one year low of $17.90 and a one year high of $25.92.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.29%. Briggs & Stratton Corporation’s dividend payout ratio is currently 58.33%.

Briggs & Stratton Corporation Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BGG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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