Brunswick (NYSE:BC) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Brunswick (NYSE:BC) announced its quarterly earnings results on Thursday. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10), RTT News reports. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period last year, the firm posted $2.35 earnings per share.

Brunswick Stock Up 1.2 %

Shares of Brunswick stock traded up $0.96 during trading on Friday, reaching $79.98. 1,573,593 shares of the company traded hands, compared to its average volume of 977,837. 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 1-year low of $66.47 and a 1-year high of $99.68. The company has a 50 day moving average price of $76.11 and a 200-day moving average price of $83.08. The firm has a market capitalization of $5.40 billion, a PE ratio of 14.87 and a beta of 1.52.

Brunswick Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BC. 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 report on Monday, July 8th. B. Riley reduced their target price on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus reduced their target price on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Robert W. Baird reduced their target price on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Morgan Stanley reduced their target price on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.57.

Insider Activity at Brunswick

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

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.