Bruker (NASDAQ:BRKR) Updates FY 2024 Earnings Guidance

Bruker (NASDAQ:BRKR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.360-2.410 for the period, compared to the consensus earnings per share estimate of 3.590. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion. Bruker also updated its FY24 guidance to $2.36-2.41 EPS.

Bruker Stock Performance

Bruker stock traded up $1.51 during midday trading on Thursday, reaching $60.49. The stock had a trading volume of 1,346,609 shares, compared to its average volume of 1,264,657. The firm has a market capitalization of $9.16 billion, a PE ratio of 25.10, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a quick ratio of 0.75, a current ratio of 1.65 and a debt-to-equity ratio of 1.18. The firm’s 50-day moving average price is $63.97 and its 200 day moving average price is $66.51. Bruker has a 12 month low of $54.55 and a 12 month high of $94.86.

Bruker (NASDAQ:BRKR) last posted its earnings results on Tuesday, November 5th. The medical research company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). Bruker had a return on equity of 24.92% and a net margin of 11.29%. The firm had revenue of $864.40 million during the quarter, compared to analysts’ expectations of $866.46 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, research analysts predict that Bruker will post 2.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BRKR has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price target on Bruker from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday. TD Cowen cut their price target on shares of Bruker from $72.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday. Wolfe Research lowered shares of Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Barclays cut their target price on shares of Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Citigroup decreased their price target on shares of Bruker from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Bruker presently has an average rating of “Moderate Buy” and an average price target of $79.36.

Bruker Company Profile

Bruker Corporation, together with its subsidiaries, develops, manufactures, and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates through four segments: Bruker Scientific Instruments (BSI) BioSpin, BSI CALID, BSI Nano, and Bruker Energy & Supercon Technologies.