Brunswick (NYSE:BC) Issues Q3 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.15-$1.25 for the period, compared to the consensus EPS estimate of $2.17. The company issued revenue guidance of $1.2-$1.3 billion, compared to the consensus revenue estimate of $1.58 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BC. Roth Mkm reissued a buy rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday. Truist Financial cut their price objective on shares of Brunswick from $95.00 to $90.00 and set a buy rating for the company in a research report on Monday, July 8th. Benchmark restated a buy rating and issued a $100.00 target price on shares of Brunswick in a research note on Friday. B. Riley dropped their price target on shares of Brunswick from $108.00 to $97.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. Finally, Morgan Stanley reduced 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. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Brunswick currently has an average rating of Moderate Buy and a consensus target price of $88.57.

Brunswick Stock Performance

BC opened at $79.98 on Friday. The stock’s 50 day simple moving average is $76.11 and its 200 day simple moving average is $83.08. The stock has a market cap of $5.40 billion, a P/E ratio of 14.87 and a beta of 1.52. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68. 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 (NYSE:BC) last posted its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the company posted $2.35 EPS. As a group, equities analysts anticipate that Brunswick will post 6.13 EPS for the current fiscal year.

Brunswick Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, August 21st. Brunswick’s payout ratio is currently 31.23%.

Insider Activity

In related news, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the sale, the director now owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the sale, the vice president now owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of the sale, the director now directly owns 23,211 shares in the company, valued at approximately $1,864,771.74. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

About Brunswick

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.