Brunswick Co. (NYSE:BC) Raises Dividend to $0.43 Per Share

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Investors of record on Monday, February 24th will be paid a dividend of 0.43 per share on Friday, March 14th. This represents a $1.72 annualized dividend and a yield of 2.68%. This is a boost from Brunswick’s previous quarterly dividend of $0.42.

Brunswick has raised its dividend by an average of 9.6% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Brunswick has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brunswick to earn $5.36 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 31.3%.

Brunswick Trading Down 2.6 %

NYSE BC opened at $64.15 on Thursday. The stock’s 50-day simple moving average is $67.98 and its two-hundred day simple moving average is $75.84. Brunswick has a twelve month low of $62.64 and a twelve month high of $96.65. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 33.76 and a beta of 1.54.

Brunswick (NYSE:BC) last released its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same period in the prior year, the business posted $1.45 earnings per share. Research analysts forecast that Brunswick will post 4.2 EPS for the current fiscal year.

Insider Activity at Brunswick

In other news, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $65.65, for a total transaction of $28,426.45. Following the sale, the director now owns 25,361 shares of the company’s stock, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. B. Riley lowered shares of Brunswick from a “buy” rating to a “neutral” rating and reduced their target price for the company from $95.00 to $88.00 in a report on Tuesday, November 26th. Roth Mkm reduced their price objective on Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Morgan Stanley boosted their target price on Brunswick from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. DA Davidson dropped their target price on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Finally, Citigroup decreased their price target on Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Brunswick currently has a consensus rating of “Moderate Buy” and an average target price of $81.85.

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.