Why Brady Shares Are Seeing Blue Skies Today?
Portfolio Pulse from Lekha Gupta
Brady Corp's shares are trading higher by around 11% after reporting Q4 FY23 results, boosting share repurchases and increasing its quarterly dividend. The company reported a sales growth of 6.8% Y/Y to $345.93 million, beating the consensus of $329.19 million. Adjusted EPS of $1.04 also beat the consensus of $0.90. The company returned $56.4 million and $120.4 million in dividends and share repurchases respectively. The Board of Directors authorized an additional share buyback worth $100 million and approved an increase in the annual dividend to shareholders from $0.92 to $0.94 per share.
September 05, 2023 | 1:13 pm
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Brady Corp's Q4 FY23 results beat expectations, leading to a rise in share price. The company also boosted share repurchases and increased its quarterly dividend.
Brady Corp's better-than-expected Q4 FY23 results, along with the increase in share repurchases and dividends, have led to a positive market reaction, with the share price rising by around 11%. This indicates investor confidence in the company's performance and future prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100