Bruker (NASDAQ:BRKR) Releases FY 2024 Earnings Guidance

Bruker (NASDAQ:BRKR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.360-2.410 for the period, compared to the consensus estimate of 3.590. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion. Bruker also updated its FY24 guidance to $2.36-2.41 EPS.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Wolfe Research downgraded Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. TD Cowen reduced their target price on Bruker from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company initiated coverage on Bruker in a report on Tuesday, August 27th. They issued an “overweight” rating and a $78.00 target price on the stock. Finally, 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 research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.82.

Bruker Stock Up 2.4 %

Shares of Bruker stock traded up $1.44 during trading hours on Tuesday, reaching $60.79. 1,671,901 shares of the company’s stock were exchanged, compared to its average volume of 1,060,722. The company has a 50 day moving average of $64.14 and a two-hundred day moving average of $66.68. Bruker has a fifty-two week low of $54.55 and a fifty-two week 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. The stock has a market cap of $9.20 billion, a P/E ratio of 24.55, a P/E/G ratio of 2.32 and a beta of 1.20.

Bruker (NASDAQ:BRKR) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The firm 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 business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. On average, 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. Stockholders of record on Monday, September 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Friday, August 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.33%. Bruker’s dividend payout ratio is presently 8.30%.

About Bruker

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.