Brink’s (NYSE:BCO) Releases Quarterly Earnings Results, Misses Expectations By $0.28 EPS

Brink’s (NYSE:BCO) posted its earnings results on Wednesday. The business services provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.28), Briefing.com reports. Brink’s had a net margin of 2.73% and a return on equity of 69.80%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business posted $1.92 earnings per share. The business’s revenue was down 3.4% on a year-over-year basis. Brink’s updated its FY 2024 guidance to 6.500-6.800 EPS and its FY24 guidance to $6.50-6.80 EPS.

Brink’s Trading Down 2.1 %

Shares of NYSE:BCO traded down $2.17 during mid-day trading on Thursday, hitting $100.51. The stock had a trading volume of 324,876 shares, compared to its average volume of 258,665. Brink’s has a 12-month low of $72.68 and a 12-month high of $115.91. The company has a debt-to-equity ratio of 7.78, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $4.44 billion, a PE ratio of 34.69 and a beta of 1.44. The company’s 50 day moving average is $108.68 and its 200-day moving average is $103.37.

Brink’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Monday, November 4th. Brink’s’s payout ratio is 32.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Brink’s from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Truist Financial dropped their price objective on shares of Brink’s from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Brink’s presently has a consensus rating of “Buy” and a consensus target price of $120.50.

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.