Brunswick (NYSE:BC) Releases Q3 Earnings Guidance

Brunswick (NYSE:BC) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $1.15-$1.25 for the period, compared to the consensus EPS estimate of $2.17. The company issued revenue guidance of $1.2-$1.3 billion, compared to the consensus revenue estimate of $1.58 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.

Analyst Ratings Changes

BC has been the subject of several recent research reports. Citigroup decreased their price target on shares of Brunswick from $100.00 to $88.00 and set a buy rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. dropped their price objective on shares of Brunswick from $78.00 to $75.00 and set a neutral rating on the stock in a research note on Wednesday. Robert W. Baird dropped their price objective on shares of Brunswick from $95.00 to $93.00 and set an outperform rating on the stock in a research note on Friday. Jefferies Financial Group reissued a hold rating and set a $70.00 price target (down from $115.00) on shares of Brunswick in a report on Friday. Finally, Truist Financial lowered their target price on shares of Brunswick from $95.00 to $90.00 and set a buy rating on the stock in a research report on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $88.57.

Brunswick Price Performance

NYSE BC traded up $0.96 during trading hours on Friday, reaching $79.98. 1,573,593 shares of the company’s stock were exchanged, compared to its average volume of 977,837. The firm has a fifty day moving average of $76.11 and a 200-day moving average of $83.13. The stock has a market cap of $5.40 billion, a PE ratio of 14.87 and a beta of 1.52. Brunswick has a one year low of $66.47 and a one year high of $99.68. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 earnings per share. On average, equities research analysts predict that Brunswick will post 5.25 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. Investors of record on Wednesday, August 21st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, August 21st. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Transactions at Brunswick

In related news, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was 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 of the company’s stock, valued at $1,864,771.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction 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 SEC, which is available through the SEC website. Also, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction dated 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 directly owns 58,076 shares in the company, valued at $4,767,458.84. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

About Brunswick

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.