Brunswick (NYSE:BC) Issues Q2 Earnings Guidance

Brunswick (NYSE:BC) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $1.85-$2.05 for the period, compared to the consensus EPS estimate of $2.03. The company issued revenue guidance of $1.50-$1.60 billion, compared to the consensus revenue estimate of $1.60 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Analyst Ratings Changes

A number of research firms have recently commented on BC. B. Riley upgraded Brunswick from a neutral rating to a buy rating and raised their price objective for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Truist Financial dropped their target price on Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a report on Friday, February 2nd. BNP Paribas reiterated a neutral rating and set a $82.00 target price (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Stifel Nicolaus raised their target price on Brunswick from $88.00 to $97.00 and gave the company a buy rating in a report on Wednesday, January 17th. Finally, DA Davidson reiterated a neutral rating and set a $77.00 target price on shares of Brunswick in a report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $92.08.

Brunswick Stock Performance

Shares of BC opened at $86.12 on Thursday. The business’s 50 day moving average is $89.30 and its two-hundred day moving average is $84.79. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 14.47 and a beta of 1.56. The company has a quick ratio of 0.59, a current ratio of 1.43 and a debt-to-equity ratio of 0.95.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted $1.99 earnings per share. Brunswick’s revenue was down 14.0% compared to the same quarter last year. Analysts forecast that Brunswick will post 7.5 EPS for the current fiscal year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, February 23rd. Brunswick’s payout ratio is 28.24%.

Insider Activity

In other news, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the sale, the vice president now directly owns 35,176 shares in the company, valued at approximately $2,973,427.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the transaction, the chief executive officer now directly owns 272,626 shares in the company, valued at approximately $23,748,450.86. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is currently owned by insiders.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.