Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Brady Corp (NYSE: BRC ) jumped as much as 16% today after the company released earnings.
So what: Fiscal third quarter revenue was up 2.3% from a year ago to $309.6 million, topping the $302.4 million consensus estimate. On the bottom line, earnings per share of $0.43 were five cents ahead of estimates.
Now what: Growth appears to be picking up, particularly in the Identification Solutions business, where organic sales were up 4.8%. The growth was also enough for management to issue fourth quarter earnings guidance of $0.45 to $0.55 per share, which is on the high end of analysts' estimates of $0.46. With growth picking up and shares trading at 14 times estimates that will probably go up after this quarter, I think there's good long-term value here.
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