Brunswick (NYSE:BC) Given New $101.00 Price Target at Citigroup

Brunswick (NYSE:BC) had its price target increased by Citigroup from $92.00 to $101.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on BC. Northcoast Research upgraded Brunswick from a neutral rating to a buy rating and set a $100.00 price objective for the company in a report on Monday, July 29th. Benchmark restated a buy rating and issued a $100.00 price target on shares of Brunswick in a research note on Friday, July 26th. Stifel Nicolaus lowered their price objective on Brunswick from $97.00 to $95.00 and set a buy rating on the stock in a research report on Friday, July 12th. Roth Mkm reissued a buy rating and set a $94.00 target price on shares of Brunswick in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Brunswick from $78.00 to $75.00 and set a neutral rating on the stock in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $89.23.

Brunswick Trading Down 0.8 %

Shares of Brunswick stock opened at $83.82 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75. The business has a fifty day simple moving average of $78.52 and a two-hundred day simple moving average of $80.51. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 15.58 and a beta of 1.51.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 EPS. Research analysts forecast that Brunswick will post 5.26 EPS for the current year.

Brunswick Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 21st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.68 annualized dividend and a yield of 2.00%. Brunswick’s dividend payout ratio is 31.23%.

Insiders Place Their Bets

In other news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the transaction, the director now directly owns 23,877 shares in the company, valued at approximately $1,942,155.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

Several hedge funds and other institutional investors have recently modified their holdings of BC. Rise Advisors LLC boosted its stake in shares of Brunswick by 249.5% in the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 232 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Brunswick by 43,700.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after buying an additional 437 shares in the last quarter. J.Safra Asset Management Corp grew its stake in shares of Brunswick by 77.1% during the first quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock worth $58,000 after buying an additional 262 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Brunswick by 291.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,041 shares of the company’s stock worth $101,000 after buying an additional 775 shares in the last quarter. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of Brunswick by 2,478.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 1,057 shares of the company’s stock valued at $102,000 after acquiring an additional 1,016 shares during the last quarter. Institutional investors own 99.34% 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.