Brink’s (NYSE:BCO) Coverage Initiated at William Blair

William Blair assumed coverage on shares of Brink’s (NYSE:BCO) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating on the business services provider’s stock. William Blair also issued estimates for Brink’s’ Q2 2024 earnings at $1.43 EPS, Q3 2024 earnings at $2.15 EPS, Q4 2024 earnings at $2.55 EPS, FY2024 earnings at $7.61 EPS and FY2025 earnings at $9.33 EPS.

Several other brokerages have also weighed in on BCO. Truist Financial raised their price objective on shares of Brink’s from $90.00 to $110.00 and gave the company a buy rating in a research report on Wednesday, February 28th. The Goldman Sachs Group upped their price objective on shares of Brink’s from $98.00 to $103.00 and gave the stock a buy rating in a report on Friday, March 1st. Finally, TheStreet cut Brink’s from a b rating to a c+ rating in a research report on Wednesday, March 13th. Three research 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, the stock presently has an average rating of Buy and a consensus price target of $106.50.

Brink’s Stock Performance

Shares of BCO opened at $101.49 on Tuesday. The company has a market capitalization of $4.51 billion, a PE ratio of 38.89 and a beta of 1.39. The company has a debt-to-equity ratio of 6.37, a quick ratio of 1.46 and a current ratio of 1.46. The company’s 50 day moving average price is $90.98 and its 200 day moving average price is $85.17. Brink’s has a 52 week low of $63.79 and a 52 week high of $101.60.

Brink’s (NYSE:BCO) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.29. Brink’s had a return on equity of 59.84% and a net margin of 2.46%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company earned $1.16 earnings per share. Brink’s’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Brink’s will post 7.56 EPS for the current fiscal year.

Brink’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a $0.243 dividend. The ex-dividend date of this dividend is Friday, May 10th. This is a positive change from Brink’s’s previous quarterly dividend of $0.22. This represents a $0.97 dividend on an annualized basis and a yield of 0.96%. Brink’s’s dividend payout ratio (DPR) is presently 37.16%.

Insider Buying and Selling

In other news, Director Keith R. Wyche sold 400 shares of the firm’s stock in a transaction dated 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 directly owns 665 shares of the company’s stock, valued at $54,776.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Brink’s

Several hedge funds have recently modified their holdings of BCO. Vanguard Group Inc. boosted its holdings in Brink’s by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,728,043 shares of the business services provider’s stock valued at $343,445,000 after purchasing an additional 35,957 shares during the period. FMR LLC lifted its stake in shares of Brink’s by 3.8% in the third quarter. FMR LLC now owns 4,609,188 shares of the business services provider’s stock valued at $334,811,000 after buying an additional 167,505 shares during the period. Ariel Investments LLC increased its stake in Brink’s by 0.8% during the third quarter. Ariel Investments LLC now owns 1,909,223 shares of the business services provider’s stock valued at $138,686,000 after acquiring an additional 15,311 shares during the period. Dimensional Fund Advisors LP raised its holdings in Brink’s by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 988,697 shares of the business services provider’s stock valued at $86,958,000 after acquiring an additional 13,350 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of Brink’s by 4.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 928,887 shares of the business services provider’s stock worth $85,811,000 after acquiring an additional 41,678 shares during the period. 94.96% of the stock is owned by institutional investors.

Brink’s Company Profile

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.