Shares of Brunswick Co. (NYSE:BC) fell 5.1% during mid-day trading on Wednesday . The stock traded as low as $44.11 and last traded at $44.30, 1,210,615 shares changed hands during trading. An increase of 6% from the average session volume of 1,137,916 shares. The stock had previously closed at $46.66.
Several research firms have recently issued reports on BC. SunTrust Banks decreased their price objective on Brunswick to $62.00 and set a “buy” rating on the stock in a report on Friday, April 26th. They noted that the move was a valuation call. TheStreet cut Brunswick from a “b-” rating to a “c” rating in a report on Thursday, April 25th. Northcoast Research cut Brunswick from a “buy” rating to a “neutral” rating and set a $45.31 price objective on the stock. in a report on Thursday, June 27th. Wedbush set a $53.00 price objective on Brunswick and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. They noted that the move was a valuation call. Finally, KeyCorp restated an “overweight” rating and set a $55.00 price objective (down previously from $65.00) on shares of Brunswick in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $58.19.
The company has a quick ratio of 1.19, a current ratio of 1.98 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.14 and a beta of 1.70. The company has a 50-day simple moving average of $46.31.
Brunswick (NYSE:BC) last issued its earnings results on Thursday, July 25th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a return on equity of 26.56% and a net margin of 3.10%. The business’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period last year, the company posted $1.50 EPS. Equities research analysts expect that Brunswick Co. will post 4.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 20th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, August 19th. Brunswick’s dividend payout ratio (DPR) is currently 17.61%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in Brunswick in the first quarter valued at about $25,000. Signaturefd LLC raised its position in Brunswick by 121.3% in the first quarter. Signaturefd LLC now owns 1,049 shares of the company’s stock valued at $53,000 after purchasing an additional 575 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Brunswick in the second quarter valued at about $66,000. AdvisorNet Financial Inc raised its position in Brunswick by 63.4% in the second quarter. AdvisorNet Financial Inc now owns 1,546 shares of the company’s stock valued at $71,000 after purchasing an additional 600 shares during the period. Finally, Rehmann Capital Advisory Group raised its position in Brunswick by 25.7% in the first quarter. Rehmann Capital Advisory Group now owns 2,722 shares of the company’s stock valued at $137,000 after purchasing an additional 556 shares during the period. 96.65% of the stock is currently owned by institutional investors and hedge funds.
About Brunswick (NYSE:BC)
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.
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