Brunswick (NYSE:BC) Updates FY 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.000-5.500 for the period, compared to the consensus estimate of 7.130. The company issued revenue guidance of $5.2 billion-$5.4 billion, compared to the consensus revenue estimate of $6.0 billion. Brunswick also updated its FY24 guidance to $5.00-$5.50 EPS.

Wall Street Analyst Weigh In

BC has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Brunswick from $78.00 to $75.00 and set a neutral rating on the stock in a research note on Wednesday. Morgan Stanley cut their price objective on Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Benchmark reissued a buy rating and issued a $100.00 target price on shares of Brunswick in a research report on Friday. B. Riley dropped their price target on Brunswick from $108.00 to $97.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Finally, Robert W. Baird reduced their price target on Brunswick from $95.00 to $93.00 and set an outperform rating on the stock in a research note on Friday. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $88.57.

Brunswick Stock Performance

Shares of BC stock opened at $79.98 on Friday. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 14.87 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. Brunswick has a one year low of $66.47 and a one year high of $99.68. The company’s 50-day moving average is $76.11 and its 200 day moving average is $83.08.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the company earned $2.35 EPS. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. Sell-side analysts expect that Brunswick will post 6.13 EPS for the current fiscal year.

Brunswick Announces Dividend

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

Insider Activity at Brunswick

In other news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.09, for a total transaction of $100,560.25. Following the sale, the vice president now 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 accessible through this hyperlink. In other news, VP Brenna Preisser sold 1,225 shares of the 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 transaction, the vice president now directly owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the director now owns 23,211 shares in the company, 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.

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.