Brunswick (NYSE:BC) Updates FY24 Earnings Guidance

Brunswick (NYSE:BC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ~$4.50 for the period, compared to the consensus estimate of $5.23. The company issued revenue guidance of $5.1-5.2 billion, compared to the consensus revenue estimate of $5.30 billion. Brunswick also updated its FY 2024 guidance to 4.500-4.500 EPS.

Brunswick Price Performance

Brunswick stock traded up $0.80 during midday trading on Friday, reaching $80.76. 1,113,859 shares of the stock traded hands, compared to its average volume of 718,351. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. Brunswick has a 12 month low of $66.47 and a 12 month high of $99.68. The stock’s fifty day moving average is $80.20 and its 200-day moving average is $79.27. The stock has a market cap of $5.46 billion, a P/E ratio of 15.07 and a beta of 1.51.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.35 earnings per share. As a group, equities research analysts anticipate 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. Investors of record on Wednesday, November 20th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.08%. Brunswick’s dividend payout ratio is presently 31.23%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BC shares. Benchmark reiterated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a report on Friday. Northcoast Research upgraded Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday, July 29th. Roth Mkm restated a “buy” rating and issued a $94.00 price target on shares of Brunswick in a report on Thursday, July 25th. Truist Financial decreased their price objective on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, Stifel Nicolaus dropped their target price on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.23.

Insider Buying and Selling at Brunswick

In other news, Director Nancy E. Cooper sold 358 shares of the stock in a transaction 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 sale, the director now owns 23,877 shares in the company, valued at $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 is available through the SEC website. Company insiders own 0.81% 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.