Brunswick (NYSE:BC) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Brunswick (NYSE:BC) released its quarterly earnings results on Thursday. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10), RTT News reports. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm posted $2.35 earnings per share. The business’s revenue for the quarter was down 15.2% on a year-over-year basis.

Brunswick Trading Up 1.2 %

NYSE BC opened at $79.98 on Friday. The firm has a market capitalization of $5.40 billion, a P/E ratio of 14.87 and a beta of 1.52. The business has a fifty day simple moving average of $76.11 and a 200 day simple moving average of $83.08. Brunswick has a 12 month low of $66.47 and a 12 month 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 Announces Dividend

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

Insider Activity at Brunswick

In related news, Director Nancy E. Cooper sold 357 shares of the 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 completion of the sale, the director now directly owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the completion of the sale, the vice president now directly owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Nancy E. Cooper sold 357 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the sale, the director now directly owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $100.00 target price on shares of Brunswick in a report on Friday. Robert W. Baird reduced their target price on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday. Truist Financial cut their price target on Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Citigroup cut their price target on Brunswick from $100.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Stifel Nicolaus cut their price target on Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Brunswick presently has a consensus rating of “Moderate Buy” and an average price target of $88.57.

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.