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

Brunswick (NYSE:BC) released its quarterly earnings data 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 6.24% and a return on equity of 25.37%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the company earned $2.57 EPS. The business’s revenue was down 21.7% on a year-over-year basis.

Brunswick Stock Performance

Shares of NYSE BC traded up $1.08 during midday trading on Friday, reaching $81.08. 682,420 shares of the company were exchanged, compared to its average volume of 752,359. The company has a current ratio of 1.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The stock has a fifty day simple moving average of $89.02 and a 200 day simple moving average of $84.81.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio (DPR) is currently 31.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BC shares. Roth Mkm restated a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a research note on Thursday. Truist Financial decreased their price objective on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. BNP Paribas restated a “neutral” rating and issued a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. B. Riley upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and upped their price objective for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. Finally, Morgan Stanley decreased their price objective on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Brunswick presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.83.

Insider Activity at Brunswick

In related news, EVP John G. Buelow sold 2,426 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $87.12, for a total value of $211,353.12. Following the completion of the sale, the executive vice president now owns 14,199 shares in the company, valued at $1,237,016.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the sale, the chief executive officer now directly owns 272,626 shares in the company, valued at approximately $23,748,450.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John G. Buelow sold 2,426 shares of Brunswick stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $87.12, for a total transaction of $211,353.12. Following the sale, the executive vice president now owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The disclosure for this sale can be found here. Insiders sold a total of 52,696 shares of company stock worth $4,574,199 over the last 90 days. Company insiders own 0.81% of the company’s stock.

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.