Zacks: Analysts Expect Briggs & Stratton Corporation (BGG) Will Post Quarterly Sales of $427.57 Million

Equities research analysts expect Briggs & Stratton Corporation (NYSE:BGG) to post sales of $427.57 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Briggs & Stratton Corporation’s earnings. The lowest sales estimate is $415.30 million and the highest is $443.10 million. Briggs & Stratton Corporation reported sales of $428.24 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.2%. The firm is expected to issue its next quarterly earnings results on Wednesday, January 24th.

On average, analysts expect that Briggs & Stratton Corporation will report full year sales of $427.57 million for the current financial year, with estimates ranging from $1.87 billion to $1.93 billion. For the next year, analysts expect that the company will post sales of $1.94 billion per share, with estimates ranging from $1.87 billion to $2.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Briggs & Stratton Corporation.

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

A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Briggs & Stratton Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Monday, October 30th. ValuEngine raised shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Briggs & Stratton Corporation in a report on Tuesday, October 17th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.50.

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In other news, VP Andrea L. Golvach sold 19,174 shares of Briggs & Stratton Corporation stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $25.20, for a total transaction of $483,184.80. Following the sale, the vice president now owns 27,197 shares in the company, valued at $685,364.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Todd J. Teske sold 5,830 shares of Briggs & Stratton Corporation stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $20.68, for a total transaction of $120,564.40. Following the sale, the insider now owns 379,417 shares in the company, valued at approximately $7,846,343.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,004 shares of company stock worth $748,579. Company insiders own 4.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Briggs & Stratton Corporation by 15.8% during the second quarter. BlackRock Inc. now owns 6,559,290 shares of the industrial products company’s stock valued at $158,080,000 after buying an additional 892,989 shares during the last quarter. LSV Asset Management raised its position in shares of Briggs & Stratton Corporation by 0.9% during the second quarter. LSV Asset Management now owns 2,177,517 shares of the industrial products company’s stock valued at $52,478,000 after buying an additional 18,700 shares during the last quarter. State Street Corp raised its position in shares of Briggs & Stratton Corporation by 4.7% during the second quarter. State Street Corp now owns 1,189,916 shares of the industrial products company’s stock valued at $28,674,000 after buying an additional 53,505 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Briggs & Stratton Corporation by 2.2% during the third quarter. Frontier Capital Management Co. LLC now owns 1,046,450 shares of the industrial products company’s stock valued at $24,592,000 after buying an additional 22,438 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Briggs & Stratton Corporation by 8.0% during the second quarter. Northern Trust Corp now owns 898,841 shares of the industrial products company’s stock valued at $21,662,000 after buying an additional 66,716 shares during the last quarter. Hedge funds and other institutional investors own 83.06% of the company’s stock.

Briggs & Stratton Corporation (BGG) opened at $24.62 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.82 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1,055.27, a P/E ratio of 17.97 and a beta of 0.79. Briggs & Stratton Corporation has a 1-year low of $18.28 and a 1-year high of $25.95.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Thursday, December 14th. Briggs & Stratton Corporation’s payout ratio is 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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