Bruker (NASDAQ:BRKR) Issues Earnings Results, Misses Estimates By $0.01 EPS

Bruker (NASDAQ:BRKR) released its quarterly earnings data on Tuesday. The medical research company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01), Briefing.com reports. The firm had revenue of $864.40 million during the quarter, compared to analyst estimates of $866.46 million. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. Bruker updated its FY 2024 guidance to 2.360-2.410 EPS and its FY24 guidance to $2.36-2.41 EPS.

Bruker Stock Down 3.5 %

BRKR stock traded down $2.17 during mid-day trading on Wednesday, hitting $59.17. 528,111 shares of the company were exchanged, compared to its average volume of 1,064,718. The firm has a fifty day simple moving average of $64.08 and a 200 day simple moving average of $66.56. The company has a market capitalization of $8.96 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. Bruker has a twelve month low of $54.55 and a twelve month high of $94.86. The company has a current ratio of 1.65, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18.

Bruker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a $0.05 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.20 annualized dividend and a yield of 0.34%. Bruker’s dividend payout ratio is presently 8.30%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wolfe Research lowered shares of Bruker from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. The Goldman Sachs Group lowered their price target on Bruker from $72.00 to $60.00 and set a “sell” rating for the company in a report on Tuesday, July 9th. Barclays cut their price objective on Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their target price on Bruker from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Citigroup dropped their target price on Bruker from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.00.

Bruker Company Profile

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.