Brunswick (NYSE:BC) Research Coverage Started at Benchmark

Benchmark began coverage on shares of Brunswick (NYSE:BC) in a research report report published on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $100.00 target price on the stock.

Other analysts have also issued research reports about the company. BNP Paribas reissued a neutral rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. DA Davidson reiterated a neutral rating and issued a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. B. Riley upgraded shares of Brunswick from a neutral rating to a buy rating and boosted their target price for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. Roth Mkm reaffirmed a buy rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday, April 25th. Finally, Morgan Stanley cut their target price on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Brunswick presently has a consensus rating of Moderate Buy and an average target price of $93.38.

Brunswick Stock Up 0.4 %

BC opened at $79.51 on Wednesday. The business has a 50 day moving average of $86.50 and a 200-day moving average of $86.14. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 14.78 and a beta of 1.60. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $2.57 EPS. The business’s revenue for the quarter was down 21.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Brunswick will post 7.39 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, May 13th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, May 10th. Brunswick’s payout ratio is 31.23%.

Insider Transactions at Brunswick

In related news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the sale, the chief executive officer now owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the completion of the transaction, the vice president now owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,582 shares of company stock worth $3,178,092. 0.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Brunswick

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in Brunswick by 140.4% in the 3rd quarter. FMR LLC now owns 3,435,357 shares of the company’s stock valued at $271,393,000 after buying an additional 2,006,578 shares during the last quarter. Baillie Gifford & Co. bought a new stake in Brunswick during the first quarter worth about $124,840,000. Norges Bank acquired a new position in Brunswick during the fourth quarter valued at approximately $65,105,000. Victory Capital Management Inc. grew its stake in Brunswick by 127.6% in the third quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock valued at $68,432,000 after purchasing an additional 485,588 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Brunswick during the 1st quarter worth approximately $38,655,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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.