DA Davidson Comments on Brunswick Co.’s FY2024 Earnings (NYSE:BC)

Brunswick Co. (NYSE:BC) – Stock analysts at DA Davidson cut their FY2024 earnings estimates for shares of Brunswick in a report released on Thursday, July 25th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings of $5.50 per share for the year, down from their previous forecast of $7.00. The consensus estimate for Brunswick’s current full-year earnings is $6.13 per share. DA Davidson also issued estimates for Brunswick’s FY2025 earnings at $7.00 EPS.

BC has been the topic of several other reports. Truist Financial dropped their price objective 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. Citigroup reduced their price objective on Brunswick from $100.00 to $88.00 and set a “buy” rating for the company in a report on Monday, July 8th. Benchmark reiterated a “buy” rating and set a $100.00 target price on shares of Brunswick in a research note on Friday, July 26th. Roth Mkm restated a “buy” rating and issued a $94.00 price target on shares of Brunswick in a research note on Thursday, July 25th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $70.00 price objective (down previously from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brunswick presently has an average rating of “Moderate Buy” and a consensus price target of $88.21.

Brunswick Stock Up 1.6 %

BC opened at $83.01 on Monday. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The stock’s fifty day simple moving average is $76.15 and its 200 day simple moving average is $82.97. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68. The stock has a market cap of $5.61 billion, a PE ratio of 15.43 and a beta of 1.52.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the firm earned $2.35 EPS. Brunswick’s quarterly revenue was down 15.2% compared to the same quarter last year.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.02%. The ex-dividend date is Wednesday, August 21st. Brunswick’s dividend payout ratio is currently 31.23%.

Insider Activity

In related news, VP Brenna Preisser sold 1,225 shares of Brunswick 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 transaction, the vice president now directly owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

Several large investors have recently bought and sold shares of BC. Baillie Gifford & Co. acquired a new stake in Brunswick in the first quarter valued at approximately $124,840,000. Norges Bank acquired a new stake in shares of Brunswick during the 4th quarter valued at $65,105,000. Lord Abbett & CO. LLC bought a new stake in Brunswick during the 1st quarter worth $38,655,000. Jennison Associates LLC increased its holdings in Brunswick by 71.0% in the 4th quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock worth $78,019,000 after purchasing an additional 334,851 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Brunswick by 32.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock valued at $110,712,000 after purchasing an additional 278,082 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

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.