Bruker (NASDAQ:BRKR) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Bruker (NASDAQ:BRKR) issued its quarterly earnings results on Tuesday. The medical research company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01), Briefing.com reports. The company 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 was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Bruker updated its FY 2024 guidance to 2.360-2.410 EPS and its FY24 guidance to $2.36-2.41 EPS.

Bruker Trading Down 3.5 %

Shares of Bruker stock traded down $2.17 during mid-day trading on Wednesday, hitting $59.17. 528,111 shares of the stock were exchanged, compared to its average volume of 1,064,718. The stock has a market capitalization of $8.96 billion, a price-to-earnings 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. The company has a 50-day simple moving average of $64.08 and a 200 day simple moving average of $66.56.

Bruker Announces Dividend

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

Analyst Ratings Changes

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

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.