Brink’s (NYSE:BCO) Updates FY 2024 Earnings Guidance

Brink’s (NYSE:BCO) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 7.300-8.000 for the period, compared to the consensus EPS estimate of 7.620. The company issued revenue guidance of $5.1 billion-$5.2 billion, compared to the consensus revenue estimate of $5.2 billion. Brink’s also updated its FY24 guidance to $7.30-8.00 EPS.

Brink’s Stock Performance

NYSE BCO traded up $3.13 on Wednesday, reaching $94.12. The stock had a trading volume of 200,260 shares, compared to its average volume of 209,495. The company has a debt-to-equity ratio of 6.27, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market cap of $4.21 billion, a P/E ratio of 49.98 and a beta of 1.39. The business’s 50-day moving average price is $87.28 and its 200 day moving average price is $82.68. Brink’s has a 12-month low of $62.13 and a 12-month high of $98.31.

Brink’s (NYSE:BCO) last announced its earnings results on Thursday, February 29th. The business services provider reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.27. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Brink’s had a net margin of 1.77% and a return on equity of 55.36%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 earnings per share. As a group, equities analysts expect that Brink’s will post 7.51 earnings per share for the current year.

Brink’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 1.03%. This is a positive change from Brink’s’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, May 10th. Brink’s’s dividend payout ratio (DPR) is 53.30%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Brink’s from $90.00 to $110.00 and gave the company a buy rating in a report on Wednesday, February 28th. The Goldman Sachs Group increased their target price on Brink’s from $98.00 to $103.00 and gave the stock a buy rating in a research note on Friday, March 1st. Finally, TheStreet downgraded Brink’s from a b rating to a c+ rating in a research note on Wednesday, March 13th.

Insiders Place Their Bets

In related news, Director Keith R. Wyche sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $82.37, for a total value of $32,948.00. Following the sale, the director now owns 665 shares of the company’s stock, valued at approximately $54,776.05. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.49% of the stock is owned by company insiders.

About Brink’s

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.