Brunswick (NYSE:BC) Hits New 1-Year High Following Dividend Announcement


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Shares of Brunswick Co. (NYSE:BC) reached a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as $111.24 and last traded at $109.36, with a volume of 2829 shares changing hands. The stock had previously closed at $107.13.

The newly announced dividend which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, May 18th will be given a $0.335 dividend. The ex-dividend date is Monday, May 17th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.19%. This is an increase from Brunswick’s previous quarterly dividend of $0.27. Brunswick’s payout ratio is 24.94%.

Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Brunswick from $99.00 to $116.00 and gave the company a “sector perform” rating in a report on Friday, April 30th. Raymond James boosted their price objective on Brunswick from $109.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Brunswick from a “neutral” rating to a “buy” rating and upped their target price for the company from $94.00 to $125.00 in a research report on Monday, April 26th. Citigroup upgraded Brunswick from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a report on Monday, April 26th. Finally, Robert W. Baird increased their price target on Brunswick from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 30th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $111.29.

The stock has a market capitalization of $8.75 billion, a P/E ratio of 26.09 and a beta of 1.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.77 and a quick ratio of 1.15. The stock has a fifty day moving average price of $101.09 and a 200 day moving average price of $85.76.

Brunswick (NYSE:BC) last posted its earnings results on Wednesday, April 28th. The company reported $2.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.78. Brunswick had a return on equity of 27.10% and a net margin of 8.40%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 48.4% compared to the same quarter last year. Research analysts anticipate that Brunswick Co. will post 4.76 earnings per share for the current year.

In other Brunswick news, VP Christopher F. Dekker sold 3,500 shares of the firm’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $91.72, for a total value of $321,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in Brunswick by 2,114.8% in the fourth quarter. Parallel Advisors LLC now owns 598 shares of the company’s stock valued at $46,000 after purchasing an additional 571 shares in the last quarter. Exane Derivatives purchased a new stake in shares of Brunswick during the 1st quarter valued at $46,000. Fort Pitt Capital Group LLC bought a new stake in shares of Brunswick during the 4th quarter worth $58,000. Fieldpoint Private Securities LLC purchased a new position in Brunswick in the fourth quarter worth $66,000. Finally, CENTRAL TRUST Co bought a new position in Brunswick in the fourth quarter valued at $80,000. Institutional investors own 95.44% of the company’s stock.

Brunswick Company Profile (NYSE:BC)

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through Propulsion; Parts & Accessories; and Boat segments. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.

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