Brunswick (NYSE:BC) Releases FY 2024 Earnings Guidance

Brunswick (NYSE:BC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 4.500-4.500 for the period, compared to the consensus earnings per share estimate of 5.230. The company issued revenue guidance of $5.1 billion-$5.2 billion, compared to the consensus revenue estimate of $5.3 billion. Brunswick also updated its FY24 guidance to ~$4.50 EPS.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial decreased their price target on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. JPMorgan Chase & Co. lowered their target price on Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Stifel Nicolaus decreased their target price on Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Benchmark reissued a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research report on Friday. Finally, Northcoast Research upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.23.

Brunswick Stock Up 1.0 %

NYSE:BC traded up $0.80 during mid-day trading on Friday, hitting $80.76. 1,072,833 shares of the company’s stock were exchanged, compared to its average volume of 718,152. The company has a market cap of $5.46 billion, a PE ratio of 15.07 and a beta of 1.51. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75. Brunswick has a one year low of $66.47 and a one year high of $99.68. The business has a fifty day moving average price of $80.20 and a 200 day moving average price of $79.27.

Brunswick (NYSE:BC) last announced its quarterly 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 firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.35 EPS. Equities analysts predict that Brunswick will post 5.26 EPS for the current year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s payout ratio is presently 31.23%.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the transaction, the director now owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is owned by insiders.

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.