Intrinsic value of Brink's - BCO

Previous Close

$64.95

  Intrinsic Value

$95.46

stock screener

  Rating & Target

buy

+47%

Previous close

$64.95

 
Intrinsic value

$95.46

 
Up/down potential

+47%

 
Rating

buy

We calculate the intrinsic value of BCO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
  5.19
  5.17
  5.15
  5.14
  5.13
  5.11
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.04
  5.03
  5.03
  5.03
  5.02
  5.02
  5.02
Revenue, $m
  3,528
  3,717
  3,915
  4,122
  4,339
  4,566
  4,804
  5,053
  5,315
  5,589
  5,876
  6,177
  6,493
  6,824
  7,172
  7,536
  7,919
  8,320
  8,741
  9,182
  9,646
  10,133
  10,643
  11,179
  11,742
  12,332
  12,952
  13,602
  14,285
  15,002
Variable operating expenses, $m
  2,558
  2,692
  2,833
  2,980
  3,133
  3,295
  3,463
  3,640
  3,826
  4,020
  4,168
  4,381
  4,605
  4,840
  5,087
  5,345
  5,616
  5,901
  6,200
  6,513
  6,842
  7,187
  7,549
  7,929
  8,328
  8,747
  9,187
  9,648
  10,132
  10,641
Fixed operating expenses, $m
  671
  686
  701
  717
  733
  749
  765
  782
  799
  817
  835
  853
  872
  891
  911
  931
  951
  972
  993
  1,015
  1,038
  1,060
  1,084
  1,108
  1,132
  1,157
  1,182
  1,208
  1,235
  1,262
Total operating expenses, $m
  3,229
  3,378
  3,534
  3,697
  3,866
  4,044
  4,228
  4,422
  4,625
  4,837
  5,003
  5,234
  5,477
  5,731
  5,998
  6,276
  6,567
  6,873
  7,193
  7,528
  7,880
  8,247
  8,633
  9,037
  9,460
  9,904
  10,369
  10,856
  11,367
  11,903
Operating income, $m
  298
  338
  381
  426
  473
  523
  576
  631
  690
  752
  874
  943
  1,016
  1,093
  1,174
  1,260
  1,351
  1,447
  1,548
  1,654
  1,767
  1,885
  2,010
  2,142
  2,281
  2,428
  2,583
  2,746
  2,918
  3,099
EBITDA, $m
  478
  525
  574
  626
  681
  739
  800
  865
  933
  1,004
  1,080
  1,160
  1,244
  1,333
  1,426
  1,525
  1,629
  1,739
  1,855
  1,977
  2,106
  2,241
  2,384
  2,535
  2,694
  2,862
  3,038
  3,224
  3,420
  3,627
Interest expense (income), $m
  20
  136
  152
  169
  187
  206
  225
  246
  267
  290
  313
  338
  364
  391
  419
  449
  480
  513
  548
  584
  622
  662
  703
  747
  793
  842
  892
  945
  1,001
  1,060
  1,121
Earnings before tax, $m
  162
  186
  212
  239
  267
  298
  330
  364
  400
  439
  536
  579
  625
  674
  725
  780
  838
  899
  964
  1,032
  1,105
  1,182
  1,263
  1,349
  1,440
  1,536
  1,638
  1,745
  1,858
  1,978
Tax expense, $m
  44
  50
  57
  64
  72
  80
  89
  98
  108
  118
  145
  156
  169
  182
  196
  211
  226
  243
  260
  279
  298
  319
  341
  364
  389
  415
  442
  471
  502
  534
Net income, $m
  118
  136
  154
  174
  195
  217
  241
  266
  292
  320
  391
  423
  456
  492
  529
  569
  611
  656
  703
  754
  807
  863
  922
  985
  1,051
  1,121
  1,195
  1,274
  1,356
  1,444

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,225
  3,397
  3,578
  3,768
  3,966
  4,174
  4,391
  4,619
  4,858
  5,108
  5,371
  5,646
  5,935
  6,238
  6,555
  6,889
  7,238
  7,605
  7,990
  8,393
  8,817
  9,262
  9,729
  10,219
  10,733
  11,272
  11,839
  12,434
  13,058
  13,713
Adjusted assets (=assets-cash), $m
  3,225
  3,397
  3,578
  3,768
  3,966
  4,174
  4,391
  4,619
  4,858
  5,108
  5,371
  5,646
  5,935
  6,238
  6,555
  6,889
  7,238
  7,605
  7,990
  8,393
  8,817
  9,262
  9,729
  10,219
  10,733
  11,272
  11,839
  12,434
  13,058
  13,713
Revenue / Adjusted assets
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
Average production assets, $m
  818
  862
  908
  956
  1,007
  1,059
  1,115
  1,172
  1,233
  1,297
  1,363
  1,433
  1,506
  1,583
  1,664
  1,748
  1,837
  1,930
  2,028
  2,130
  2,238
  2,351
  2,469
  2,594
  2,724
  2,861
  3,005
  3,156
  3,314
  3,481
Working capital, $m
  25
  26
  27
  29
  30
  32
  34
  35
  37
  39
  41
  43
  45
  48
  50
  53
  55
  58
  61
  64
  68
  71
  75
  78
  82
  86
  91
  95
  100
  105
Total debt, $m
  1,384
  1,539
  1,701
  1,870
  2,048
  2,234
  2,429
  2,633
  2,847
  3,072
  3,307
  3,554
  3,812
  4,084
  4,368
  4,667
  4,980
  5,308
  5,653
  6,015
  6,395
  6,793
  7,211
  7,650
  8,111
  8,595
  9,102
  9,635
  10,194
  10,782
Total liabilities, $m
  2,889
  3,044
  3,206
  3,376
  3,554
  3,740
  3,935
  4,139
  4,353
  4,577
  4,812
  5,059
  5,318
  5,589
  5,874
  6,172
  6,485
  6,814
  7,159
  7,521
  7,900
  8,299
  8,717
  9,156
  9,617
  10,100
  10,608
  11,141
  11,700
  12,287
Total equity, $m
  335
  353
  372
  392
  412
  434
  457
  480
  505
  531
  559
  587
  617
  649
  682
  716
  753
  791
  831
  873
  917
  963
  1,012
  1,063
  1,116
  1,172
  1,231
  1,293
  1,358
  1,426
Total liabilities and equity, $m
  3,224
  3,397
  3,578
  3,768
  3,966
  4,174
  4,392
  4,619
  4,858
  5,108
  5,371
  5,646
  5,935
  6,238
  6,556
  6,888
  7,238
  7,605
  7,990
  8,394
  8,817
  9,262
  9,729
  10,219
  10,733
  11,272
  11,839
  12,434
  13,058
  13,713
Debt-to-equity ratio
  4.130
  4.350
  4.570
  4.770
  4.970
  5.150
  5.320
  5.480
  5.640
  5.780
  5.920
  6.050
  6.180
  6.290
  6.410
  6.510
  6.620
  6.710
  6.800
  6.890
  6.970
  7.050
  7.130
  7.200
  7.270
  7.330
  7.390
  7.450
  7.510
  7.560
Adjusted equity ratio
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  118
  136
  154
  174
  195
  217
  241
  266
  292
  320
  391
  423
  456
  492
  529
  569
  611
  656
  703
  754
  807
  863
  922
  985
  1,051
  1,121
  1,195
  1,274
  1,356
  1,444
Depreciation, amort., depletion, $m
  180
  187
  194
  201
  208
  216
  225
  234
  243
  252
  207
  217
  228
  240
  252
  265
  278
  292
  307
  323
  339
  356
  374
  393
  413
  433
  455
  478
  502
  527
Funds from operations, $m
  298
  322
  348
  375
  403
  434
  466
  499
  535
  573
  598
  640
  684
  732
  781
  834
  890
  949
  1,011
  1,076
  1,146
  1,219
  1,296
  1,378
  1,464
  1,555
  1,651
  1,752
  1,859
  1,971
Change in working capital, $m
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
Cash from operations, $m
  297
  321
  347
  373
  402
  432
  464
  498
  533
  571
  596
  638
  682
  729
  779
  832
  887
  946
  1,008
  1,073
  1,142
  1,215
  1,293
  1,374
  1,460
  1,551
  1,646
  1,747
  1,854
  1,966
Maintenance CAPEX, $m
  -118
  -124
  -131
  -138
  -145
  -153
  -161
  -169
  -178
  -187
  -196
  -207
  -217
  -228
  -240
  -252
  -265
  -278
  -292
  -307
  -323
  -339
  -356
  -374
  -393
  -413
  -433
  -455
  -478
  -502
New CAPEX, $m
  -41
  -44
  -46
  -48
  -50
  -53
  -55
  -58
  -61
  -64
  -67
  -70
  -73
  -77
  -81
  -85
  -89
  -93
  -98
  -102
  -108
  -113
  -118
  -124
  -131
  -137
  -144
  -151
  -158
  -166
Cash from investing activities, $m
  -159
  -168
  -177
  -186
  -195
  -206
  -216
  -227
  -239
  -251
  -263
  -277
  -290
  -305
  -321
  -337
  -354
  -371
  -390
  -409
  -431
  -452
  -474
  -498
  -524
  -550
  -577
  -606
  -636
  -668
Free cash flow, $m
  138
  153
  170
  188
  207
  227
  248
  271
  295
  320
  332
  361
  392
  424
  458
  495
  533
  574
  618
  664
  712
  764
  818
  876
  936
  1,001
  1,069
  1,141
  1,217
  1,298
Issuance/(repayment) of debt, $m
  147
  155
  162
  170
  178
  186
  195
  204
  214
  224
  235
  247
  259
  271
  285
  299
  313
  329
  345
  362
  380
  398
  418
  439
  461
  484
  508
  533
  559
  587
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  147
  155
  162
  170
  178
  186
  195
  204
  214
  224
  235
  247
  259
  271
  285
  299
  313
  329
  345
  362
  380
  398
  418
  439
  461
  484
  508
  533
  559
  587
Total cash flow (excl. dividends), $m
  285
  308
  332
  357
  384
  413
  443
  475
  509
  545
  568
  608
  650
  695
  743
  793
  847
  903
  962
  1,025
  1,092
  1,162
  1,236
  1,314
  1,397
  1,485
  1,577
  1,674
  1,777
  1,885
Retained Cash Flow (-), $m
  -18
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -33
  -35
  -36
  -38
  -40
  -42
  -44
  -46
  -49
  -51
  -53
  -56
  -59
  -62
  -65
  -68
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  267
  290
  313
  338
  364
  391
  420
  451
  484
  519
  540
  579
  620
  664
  710
  759
  810
  865
  922
  983
  1,048
  1,116
  1,188
  1,264
  1,344
  1,428
  1,518
  1,612
  1,712
  1,817
Discount rate, %
  4.70
  4.94
  5.18
  5.44
  5.71
  6.00
  6.30
  6.61
  6.94
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.77
  11.31
  11.88
  12.47
  13.09
  13.75
  14.44
  15.16
  15.92
  16.71
  17.55
  18.42
  19.35
PV of cash for distribution, $m
  255
  264
  269
  273
  276
  276
  274
  270
  265
  257
  240
  229
  216
  202
  187
  171
  154
  137
  120
  104
  89
  74
  61
  50
  39
  31
  23
  17
  13
  9
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

The Brink's Company (Brink's) is a provider of logistics and security solutions. The Company operates through nine segments: U.S., France, Mexico, Brazil, Canada, Latin America, EMEA, Asia and Payment Services. The Company's solutions include cash-in-transit (CIT), automated teller machine (ATM) replenishment and maintenance, cash management services, including vault outsourcing, money processing, and intelligent safe services, international transportation of valuables, and payment services. Its customers include financial institutions, retailers, government agencies (including central banks), mints, jewelers and other commercial operations around the world. As of December 31, 2016, the Company's global network served customers in over 100 countries. Its services offerings include Core Services, High-Value Services and Other Security Services.

FINANCIAL RATIOS  of  Brink's (BCO)

Valuation Ratios
P/E Ratio 92.8
Price to Sales 1.1
Price to Book 9.6
Price to Tangible Book
Price to Cash Flow 19.3
Price to Free Cash Flow 58
Growth Rates
Sales Growth Rate -1.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 10.9%
Cap. Spend. - 3 Yr. Gr. Rate -8.3%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 73.3%
Total Debt to Equity 131.5%
Interest Coverage 7
Management Effectiveness
Return On Assets 2.2%
Ret/ On Assets - 3 Yr. Avg. -0.3%
Return On Total Capital 4.2%
Ret/ On T. Cap. - 3 Yr. Avg. -1.4%
Return On Equity 10.7%
Return On Equity - 3 Yr. Avg. -2.5%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 19.7%
Gross Margin - 3 Yr. Avg. 18.7%
EBITDA Margin 9.2%
EBITDA Margin - 3 Yr. Avg. 6.5%
Operating Margin 4.7%
Oper. Margin - 3 Yr. Avg. 1.9%
Pre-Tax Margin 4.1%
Pre-Tax Margin - 3 Yr. Avg. 1.4%
Net Profit Margin 1.2%
Net Profit Margin - 3 Yr. Avg. -0.5%
Effective Tax Rate 62.4%
Eff/ Tax Rate - 3 Yr. Avg. 49.3%
Payout Ratio 57.1%

BCO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BCO stock intrinsic value calculation we used $3347 million for the last fiscal year's total revenue generated by Brink's. The default revenue input number comes from 0001 income statement of Brink's. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BCO stock valuation model: a) initial revenue growth rate of 5.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.7%, whose default value for BCO is calculated based on our internal credit rating of Brink's, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Brink's.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BCO stock the variable cost ratio is equal to 72.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $657 million in the base year in the intrinsic value calculation for BCO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 11% for Brink's.

Corporate tax rate of 27% is the nominal tax rate for Brink's. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BCO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BCO are equal to 23.2%.

Life of production assets of 6.6 years is the average useful life of capital assets used in Brink's operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BCO is equal to 0.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $317.4 million for Brink's - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 50.952 million for Brink's is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Brink's at the current share price and the inputted number of shares is $3.3 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ New Strong Sell Stocks for October 16th   [Oct-16-18 05:02AM  Zacks]
▶ Brinks Declares Quarterly Dividend   [Oct-04-18 03:44PM  GlobeNewswire]
▶ Top 4 Small-Cap Stocks for 2018   [Oct-03-18 06:45PM  Investopedia]
▶ Brink's (BCO): Moving Average Crossover Alert   [Sep-28-18 07:52AM  Zacks]
▶ Weekly CEO Buys Highlight   [Sep-17-18 12:22PM  GuruFocus.com]
▶ Weekly CEO Buys Highlight   [Sep-10-18 11:12AM  GuruFocus.com]
▶ Top 3 Growth Stocks for 2018   [Sep-06-18 07:18PM  Investopedia]
▶ Dunbar's red trucks to be 'phased out' within next two years   [Aug-15-18 08:53AM  American City Business Journals]
▶ Brink's Doesn't Look Secure at Current Level   [08:19AM  TheStreet.com]
▶ Brink's Co. closes $520M acquisition of Dunbar Armored   [Aug-13-18 07:26PM  American City Business Journals]
▶ Brinks Receives Regulatory Clearance for Dunbar Acquisition   [Aug-07-18 08:30AM  GlobeNewswire]
▶ Brink's Company to Host Earnings Call   [Jul-25-18 08:30AM  ACCESSWIRE]
▶ Brink's: 2Q Earnings Snapshot   [07:41AM  Associated Press]
▶ Brinks Declares Quarterly Dividend   [Jul-13-18 02:37PM  GlobeNewswire]
▶ Brink's Heading Higher   [Jun-12-18 02:02PM  TheStreet.com]
▶ [$$] Brinks to Buy Cash-Management Firm Dunbar for $520 Million   [May-31-18 08:34PM  The Wall Street Journal]
▶ Armored truck company Brinks makes $520M deal for rival Dunbar   [03:46PM  American City Business Journals]
▶ Family-owned Dunbar Armored's sale to Brink's stuns industry   [02:50PM  American City Business Journals]
▶ Dunbar Armored selling to rival for $520 million   [09:43AM  American City Business Journals]
▶ Brinks to Acquire Dunbar Armored   [06:00AM  GlobeNewswire]
▶ Will This Company's Growth Strategy Drown It In Debt?   [May-08-18 08:34AM  Motley Fool]
▶ Brinks Declares Quarterly Dividend   [May-03-18 04:45PM  GlobeNewswire]
▶ Is It The Right Time To Buy The Brinks Company (NYSE:BCO)?   [Apr-25-18 10:34AM  Simply Wall St.]
▶ Brink's: 1Q Earnings Snapshot   [07:46AM  Associated Press]
▶ Brink's Reports First-Quarter Results   [07:30AM  GlobeNewswire]
▶ Brink's Company to Host Earnings Call   [06:30AM  ACCESSWIRE]
▶ The 1 Big Risk With Brink's Company's Growth Strategy   [Feb-18-18 07:12PM  Motley Fool]
▶ Weekly CEO Buys Highlight   [Feb-12-18 10:22AM  GuruFocus.com]
▶ Brink's reports 4Q loss   [08:17AM  Associated Press]
▶ Brink's Company to Host Earnings Call   [06:45AM  ACCESSWIRE]
▶ Does The Brinks Companys (NYSE:BCO) Debt Level Pose A Problem?   [Feb-03-18 06:39PM  Simply Wall St.]
▶ Brinks Declares Quarterly Dividend   [Jan-15-18 12:36PM  GlobeNewswire]
▶ Brinks Incurs Theft Loss   [04:10PM  GlobeNewswire]
▶ Cramer's lightning round: Why Brink's is a buy   [Nov-13-17 07:15PM  CNBC Videos]
▶ ETFs with exposure to The Brinks Co. : November 9, 2017   [Nov-09-17 12:04PM  Capital Cube]
▶ Top 3 Growth Stocks for 2017   [Nov-08-17 10:45AM  Investopedia]
▶ Is There Now An Opportunity In The Brinks Company (BCO)?   [Nov-06-17 01:52PM  Simply Wall St.]
▶ Top 4 Small-Cap Stocks for 2017   [11:59AM  Investopedia]
▶ ETFs with exposure to The Brinks Co. : October 30, 2017   [Oct-30-17 11:26AM  Capital Cube]

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