Brunswick (NYSE:BC) Updates Q3 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.150-1.250 for the period, compared to the consensus earnings per share estimate of 2.240. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.6 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.

Brunswick Stock Up 1.2 %

Shares of BC traded up $0.98 during mid-day trading on Friday, hitting $80.00. 1,573,593 shares of the company’s stock were exchanged, compared to its average volume of 769,421. The company has a market cap of $5.41 billion, a PE ratio of 14.87 and a beta of 1.52. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68. The company has a 50-day simple moving average of $76.11 and a 200 day simple moving average of $83.13.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.35 EPS. On average, research analysts forecast that Brunswick will post 7.15 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, August 21st. Brunswick’s dividend payout ratio is 31.23%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BC shares. Jefferies Financial Group reaffirmed a hold rating and set a $70.00 price target (down previously from $115.00) on shares of Brunswick in a report on Friday. Citigroup cut their price target on Brunswick from $100.00 to $88.00 and set a buy rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. cut their price target on Brunswick from $78.00 to $75.00 and set a neutral rating for the company in a report on Wednesday. Roth Mkm reaffirmed a buy rating and set a $94.00 price target on shares of Brunswick in a report on Thursday. Finally, B. Riley dropped their target price on Brunswick from $108.00 to $97.00 and set a buy rating for the company in a report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Brunswick presently has a consensus rating of Moderate Buy and a consensus target price of $88.57.

Insider Buying and Selling

In related news, Director Nancy E. Cooper sold 357 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the transaction, the director now owns 23,211 shares in the company, valued at $1,864,771.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Brunswick news, VP Brenna Preisser sold 1,225 shares of Brunswick stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of 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 company insiders.

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.