Brunswick Co. (NYSE:BC) Declares Quarterly Dividend of $0.43

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.43 per share on Friday, March 14th. This represents a $1.72 annualized dividend and a yield of 2.68%. This is a positive change from Brunswick’s previous quarterly dividend of $0.42.

Brunswick has raised its dividend payment by an average of 9.6% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Brunswick has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brunswick to earn $5.36 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 31.3%.

Brunswick Stock Down 2.6 %

NYSE:BC opened at $64.15 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. The firm’s 50-day moving average price is $67.98 and its 200-day moving average price is $75.84. The company has a market capitalization of $4.23 billion, a PE ratio of 33.76 and a beta of 1.54. Brunswick has a 1-year low of $62.64 and a 1-year high of $96.65.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter in the prior year, the business earned $1.45 earnings per share. On average, equities analysts predict that Brunswick will post 4.2 EPS for the current fiscal year.

Insider Buying and Selling at Brunswick

In other news, Director Nancy E. Cooper sold 433 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the transaction, the director now owns 25,361 shares in the company, valued at $1,664,949.65. This represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BC. Truist Financial lowered their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus dropped their price target on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Roth Mkm cut their price objective on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $88.00 in a report on Tuesday, November 26th. Finally, Citigroup cut their price target on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brunswick presently has an average rating of “Moderate Buy” and an average target price of $81.85.

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.