Brunswick Co. (BC) to Issue Quarterly Dividend of $0.42 on September 13th

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Tuesday, July 16th, Zacks reports. Investors of record on Wednesday, August 21st will be paid a dividend of 0.42 per share on Friday, September 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, August 21st.

Brunswick has increased its dividend payment by an average of 17.4% annually over the last three years and has increased its dividend every year for the last 12 years. Brunswick has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Brunswick to earn $6.31 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 26.6%.

Brunswick Trading Up 0.3 %

NYSE:BC opened at $76.90 on Monday. The company’s 50 day moving average is $75.35 and its 200-day moving average is $82.18. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. Brunswick has a 12 month low of $66.47 and a 12 month high of $99.68. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 14.29 and a beta of 1.52.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business earned $2.35 EPS. The business’s revenue was down 15.2% compared to the same quarter last year. Equities analysts anticipate that Brunswick will post 5.59 EPS for the current year.

Analyst Ratings Changes

BC has been the topic of a number of research analyst reports. Citigroup lowered their target price on Brunswick from $100.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Stifel Nicolaus dropped their target price on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Jefferies Financial Group reiterated a “hold” rating and set a $70.00 target price (down from $115.00) on shares of Brunswick in a research note on Friday, July 26th. B. Riley decreased their price target on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Morgan Stanley dropped their price objective on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.21.

Insider Transactions at Brunswick

In related news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the sale, the director now owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.