Bruker (NASDAQ:BRKR) Issues FY24 Earnings Guidance

by · The Cerbat Gem

Bruker (NASDAQ:BRKR – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.36-2.41 for the period, compared to the consensus estimate of $2.59. The company issued revenue guidance of $3.34-3.37 billion, compared to the consensus revenue estimate of $3.40 billion. Bruker also updated its FY 2024 guidance to 2.360-2.410 EPS.

Bruker Price Performance

BRKR traded up $1.73 on Tuesday, hitting $61.08. 1,836,344 shares of the stock were exchanged, compared to its average volume of 1,061,490. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.65 and a quick ratio of 0.75. Bruker has a 12 month low of $54.55 and a 12 month high of $94.86. The business has a 50-day moving average of $64.14 and a two-hundred day moving average of $66.68.

Bruker (NASDAQ:BRKR – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The company had revenue of $800.70 million during the quarter, compared to the consensus estimate of $799.44 million. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. Sell-side analysts forecast that Bruker will post 2.61 EPS for the current fiscal year.

Bruker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Friday, August 30th. Bruker’s dividend payout ratio is presently 8.30%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wolfe Research cut Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Citigroup dropped their target price on shares of Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. The Goldman Sachs Group reduced their price target on shares of Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. TD Cowen lowered their price objective on shares of Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays initiated coverage on shares of Bruker in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Bruker currently has an average rating of “Moderate Buy” and an average price target of $80.82.

Read Our Latest Report on Bruker

Bruker Company Profile

(Get Free Report)

Bruker Corporation, together with its subsidiaries, develops, manufactures, and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates through four segments: Bruker Scientific Instruments (BSI) BioSpin, BSI CALID, BSI Nano, and Bruker Energy & Supercon Technologies.

See Also