Brink’s Co. (NYSE:BCO)’s share price shot up 3% during mid-day trading on Monday after Macquarie raised their price target on the stock from $33.00 to $38.00. Macquarie currently has a neutral rating on the stock. Brink’s traded as high as $36.04 and last traded at $35.99, with a volume of 453,235 shares changing hands. The stock had previously closed at $34.94.
Other equities research analysts also recently issued reports about the company. Imperial Capital raised Brink’s from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $31.50 to $38.00 in a research report on Wednesday, August 3rd. Zacks Investment Research raised Brink’s from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th.
In other Brink’s news, CFO Ronald James Domanico bought 16,744 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were purchased at an average cost of $29.86 per share, for a total transaction of $499,975.84. Following the transaction, the chief financial officer now directly owns 16,744 shares of the company’s stock, valued at $499,975.84. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Amit Zukerman sold 10,518 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $36.69, for a total value of $385,905.42. The disclosure for this sale can be found here. Company insiders own 11.29% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Sei Investments Co. boosted its stake in Brink’s by 58.0% in the second quarter. Sei Investments Co. now owns 4,370 shares of the company’s stock worth $124,000 after buying an additional 1,605 shares during the period. BlackRock Inc. boosted its stake in Brink’s by 29.5% in the first quarter. BlackRock Inc. now owns 4,408 shares of the company’s stock worth $147,000 after buying an additional 1,003 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Brink’s during the second quarter worth approximately $156,000. Cutler Group LP boosted its stake in Brink’s by 69.9% in the first quarter. Cutler Group LP now owns 6,023 shares of the company’s stock worth $202,000 after buying an additional 2,479 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Brink’s during the first quarter worth approximately $207,000. Hedge funds and other institutional investors own 93.07% of the company’s stock.
The company’s 50 day moving average price is $36.18 and its 200-day moving average price is $32.13. The firm has a market cap of $1.79 billion, a PE ratio of 1900.53 and a beta of 1.52.
Brink’s (NYSE:BCO) last issued its earnings results on Thursday, July 28th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.12. Brink’s had a net margin of 0.04% and a return on equity of 22.23%. The company had revenue of $739.50 million for the quarter, compared to analyst estimates of $699.03 million. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts predict that Brink’s Co. will post $2.00 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, July 26th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, July 22nd. This represents a $0.40 annualized dividend and a yield of 1.11%. Brink’s’s payout ratio is currently 1,333.33%.
Brink’s Company Profile
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company’s solutions include cash-in-transit, automated teller machine (ATM) replenishment and maintenance, international transportation of valuables, cash management and payment services, to financial institutions, retailers, government agencies (including central banks), mints, jewelers and other commercial operations around the world.
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