Brink’s (NYSE:BCO) Releases Quarterly Earnings Results, Misses Estimates By $0.35 EPS

Brink’s (NYSE:BCO) released its quarterly earnings results on Wednesday. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.35), Briefing.com reports. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Brink’s had a return on equity of 69.80% and a net margin of 2.73%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business earned $1.92 earnings per share. 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 Stock Performance

BCO traded down $2.17 during midday trading on Thursday, reaching $100.51. The company had a trading volume of 324,876 shares, compared to its average volume of 258,665. Brink’s has a 1 year low of $72.68 and a 1 year high of $115.91. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 7.78. The company has a market cap of $4.44 billion, a P/E ratio of 34.69 and a beta of 1.44. The business has a 50-day moving average of $108.68 and a two-hundred day moving average of $103.37.

Brink’s Announces Dividend

The business 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 dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Monday, November 4th. Brink’s’s dividend payout ratio is presently 32.77%.

Analysts Set New Price Targets

A number of research firms have issued reports on BCO. StockNews.com upgraded Brink’s from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Truist Financial cut their target price on shares of Brink’s from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Brink’s has a consensus rating of “Buy” and an average price target 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.