Brokers Issue Forecasts for Brunswick Co.’s Q3 2024 Earnings (NYSE:BC)

Brunswick Co. (NYSE:BC) – Stock analysts at B. Riley decreased their Q3 2024 earnings estimates for Brunswick in a research report issued to clients and investors on Thursday, April 25th. B. Riley analyst E. Wold now anticipates that the company will earn $2.47 per share for the quarter, down from their prior estimate of $2.52. B. Riley currently has a “Buy” rating and a $108.00 target price on the stock. The consensus estimate for Brunswick’s current full-year earnings is $7.43 per share. B. Riley also issued estimates for Brunswick’s Q4 2024 earnings at $1.89 EPS, FY2024 earnings at $7.59 EPS, Q1 2025 earnings at $1.98 EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at $2.61 EPS, Q4 2025 earnings at $2.10 EPS and FY2025 earnings at $9.02 EPS.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus increased their price objective on shares of Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Morgan Stanley dropped 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 report on Friday, April 26th. Truist Financial decreased their price objective on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Raymond James lowered Brunswick from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Finally, DA Davidson reiterated a “neutral” rating and issued a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.83.

Brunswick Stock Down 1.8 %

Shares of BC opened at $80.66 on Monday. The company has a market capitalization of $5.55 billion, a P/E ratio of 14.99 and a beta of 1.56. Brunswick has a one year low of $66.47 and a one year high of $99.68. The business’s 50 day simple moving average is $88.94 and its 200-day simple moving average is $84.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the business earned $2.57 EPS. The firm’s revenue for the quarter was down 21.7% on a year-over-year basis.

Institutional Investors Weigh In On Brunswick

Large investors have recently made changes to their positions in the business. Raymond James Trust N.A. raised its holdings in Brunswick by 4.4% during the 4th quarter. Raymond James Trust N.A. now owns 2,863 shares of the company’s stock valued at $277,000 after acquiring an additional 120 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Brunswick by 4.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,645 shares of the company’s stock valued at $288,000 after purchasing an additional 149 shares during the period. Wrapmanager Inc. lifted its holdings in Brunswick by 5.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,806 shares of the company’s stock worth $222,000 after purchasing an additional 149 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Brunswick by 2.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,488 shares of the company’s stock worth $434,000 after purchasing an additional 155 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Brunswick by 17.9% during the 3rd quarter. Fifth Third Bancorp now owns 1,042 shares of the company’s stock valued at $82,000 after buying an additional 158 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO David M. Foulkes sold 35,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $23,748,450.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John G. Buelow sold 2,426 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was 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 directly owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,696 shares of company stock worth $4,574,199. Company insiders own 0.81% of the company’s stock.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a $0.42 dividend. This is an increase from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s payout ratio is 31.23%.

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.