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

Brink’s (NYSE:BCO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 7.300-8.000 for the period, compared to the consensus estimate of 7.590. The company issued revenue guidance of $5.1 billion-$5.2 billion, compared to the consensus revenue estimate of $5.1 billion. Brink’s also updated its FY24 guidance to $7.30-$8.00 EPS.

Brink’s Stock Performance

Shares of NYSE BCO traded down $6.95 during trading on Wednesday, reaching $94.51. The stock had a trading volume of 353,634 shares, compared to its average volume of 245,604. The stock has a market cap of $4.20 billion, a PE ratio of 36.08 and a beta of 1.46. The firm’s 50 day moving average price is $103.51 and its two-hundred day moving average price is $93.05. The company has a debt-to-equity ratio of 6.37, a quick ratio of 1.46 and a current ratio of 1.46. Brink’s has a one year low of $64.15 and a one year high of $113.63.

Brink’s (NYSE:BCO) last released its quarterly earnings results 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 company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, research analysts forecast that Brink’s will post 7.56 earnings per share for the current fiscal year.

Brink’s Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, July 29th will be paid a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Monday, July 29th. Brink’s’s dividend payout ratio is currently 37.16%.

Analyst Ratings Changes

Separately, William Blair began coverage on Brink’s in a research note on Tuesday, May 21st. They issued an outperform rating for the company. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Brink’s currently has an average rating of Buy and a consensus target price of $106.50.

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.