Brunswick (NYSE:BC) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Brunswick (NYSE:BC) posted its quarterly earnings results on Thursday. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01), Briefing.com reports. Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $2.57 EPS. The business’s revenue for the quarter was down 21.7% compared to the same quarter last year.

Brunswick Stock Performance

Shares of NYSE BC traded up $1.32 during trading on Friday, hitting $81.32. The company had a trading volume of 227,197 shares, compared to its average volume of 748,805. The stock has a 50 day simple moving average of $89.29 and a 200 day simple moving average of $84.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.59 and a current ratio of 1.43. Brunswick has a 12 month low of $66.47 and a 12 month high of $99.68. The firm has a market capitalization of $5.59 billion, a P/E ratio of 13.70 and a beta of 1.56.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were paid a $0.42 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.68 annualized dividend and a dividend yield of 2.07%. This is an increase from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio (DPR) is 28.24%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BC. Raymond James cut Brunswick from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Roth Mkm reaffirmed a “buy” rating and set a $94.00 target price on shares of Brunswick in a report on Thursday. DA Davidson reissued a “neutral” rating and set a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. Stifel Nicolaus boosted their target price on Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Truist Financial dropped their target price on Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.08.

Insider Transactions at Brunswick

In related news, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the sale, the vice president now owns 35,176 shares in the company, valued at $2,973,427.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Christopher F. Dekker sold 6,234 shares of Brunswick 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 transaction, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ryan M. Gwillim sold 9,036 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.10, for a total value of $787,035.60. Following the sale, the chief financial officer now directly owns 28,966 shares of the company’s stock, valued at $2,522,938.60. The disclosure for this sale can be found here. Insiders have sold 52,696 shares of company stock valued at $4,574,199 over the last quarter. 0.81% of the stock is currently owned by company insiders.

About Brunswick

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.