Brink’s (NYSE:BCO) Reaches New 52-Week High After Earnings Beat

Brink’s Company (The) (NYSE:BCO) shares reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $134.40 and last traded at $134.5490, with a volume of 268244 shares changing hands. The stock had previously closed at $129.58.

The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.07. Brink’s had a net margin of 3.31% and a return on equity of 93.16%.

Brink’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, February 2nd. Brink’s’s dividend payout ratio is 26.09%.

Brink’s declared that its board has authorized a share repurchase program on Thursday, December 11th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 15.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Truist Financial boosted their target price on Brink’s from $138.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Insider Activity at Brink’s

In related news, insider Michael E. Sweeney sold 1,418 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $119.50, for a total value of $169,451.00. Following the transaction, the insider directly owned 5,755 shares in the company, valued at approximately $687,722.50. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Brink’s

A number of hedge funds have recently made changes to their positions in BCO. Royal Bank of Canada lifted its stake in Brink’s by 10.9% during the first quarter. Royal Bank of Canada now owns 54,678 shares of the business services provider’s stock worth $4,711,000 after purchasing an additional 5,359 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Brink’s by 3.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,098 shares of the business services provider’s stock valued at $2,249,000 after buying an additional 852 shares during the period. United Services Automobile Association acquired a new position in Brink’s during the 1st quarter worth about $257,000. CWM LLC lifted its stake in Brink’s by 53.8% during the 2nd quarter. CWM LLC now owns 512 shares of the business services provider’s stock worth $46,000 after acquiring an additional 179 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Brink’s by 7.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 22,586 shares of the business services provider’s stock valued at $2,017,000 after acquiring an additional 1,600 shares during the period. Hedge funds and other institutional investors own 94.96% of the company’s stock.

Brink’s Stock Performance

The company has a debt-to-equity ratio of 9.14, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 34.75 and a beta of 1.09. The firm has a 50-day simple moving average of $124.71 and a two-hundred day simple moving average of $117.44.

Brink’s Company Profile

The Brink’s Company (NYSE: BCO) is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink’s ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink’s armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.