DA Davidson Weighs in on Brunswick Co.’s Q2 2024 Earnings (NYSE:BC)

Brunswick Co. (NYSE:BC) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for Brunswick in a research note issued to investors on Friday, April 26th. DA Davidson analyst B. Rolle expects that the company will post earnings of $1.85 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $77.00 target price on the stock. The consensus estimate for Brunswick’s current full-year earnings is $7.43 per share. DA Davidson also issued estimates for Brunswick’s FY2025 earnings at $8.00 EPS.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The company’s revenue was down 21.7% compared to the same quarter last year.

Several other analysts also recently issued reports on the stock. Truist Financial reduced their price target on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. BNP Paribas reaffirmed a “neutral” rating and set a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Morgan Stanley dropped their price target 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. B. Riley raised shares of Brunswick from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $94.00 price target on shares of Brunswick in a research report on Thursday, April 25th. Five investment 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 presently has an average rating of “Moderate Buy” and an average target price of $92.83.

Brunswick Stock Down 1.8 %

BC stock opened at $80.66 on Monday. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68. The company has a market cap of $5.55 billion, a P/E ratio of 14.99 and a beta of 1.56. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16. The company’s 50-day moving average price is $88.94 and its 200 day moving average price is $84.99.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a $0.42 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.68 annualized dividend and a dividend yield of 2.08%. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio is presently 31.23%.

Insider Transactions at Brunswick

In other news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value 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 $23,748,450.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction on Friday, February 9th. The shares were 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 directly owns 35,176 shares in the company, valued at $2,973,427.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The disclosure for this sale can be found here. Insiders sold 52,696 shares of company stock valued at $4,574,199 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. boosted its stake in Brunswick by 224.7% during the 3rd quarter. Alps Advisors Inc. now owns 49,446 shares of the company’s stock valued at $3,906,000 after acquiring an additional 34,220 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Brunswick by 127.6% in the 3rd quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock worth $68,432,000 after buying an additional 485,588 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Brunswick in the 4th quarter worth about $20,460,000. Envestnet Asset Management Inc. lifted its position in shares of Brunswick by 29.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 144,584 shares of the company’s stock worth $11,422,000 after buying an additional 32,901 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Brunswick by 10.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 156,596 shares of the company’s stock worth $12,371,000 after buying an additional 15,042 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

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.