Wedbush restated their outperform rating on shares of Brunswick (NYSE:BC) in a research report sent to investors on Thursday morning, The Fly reports. The brokerage currently has a $60.00 target price on the stock, up from their previous target price of $53.00. The analysts noted that the move was a valuation call.
BC has been the subject of several other research reports. Citigroup lowered their price objective on Brunswick from $63.00 to $57.00 and set a buy rating for the company in a research note on Tuesday, July 30th. Wells Fargo & Co lowered their price objective on Brunswick from $64.00 to $55.00 and set an outperform rating for the company in a research note on Wednesday, July 17th. KeyCorp upped their price objective on Brunswick from $55.00 to $58.00 and gave the company an overweight rating in a research note on Monday, September 9th. Jefferies Financial Group raised shares of Brunswick from a hold rating to a buy rating and increased their target price for the company from $52.00 to $60.00 in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada downgraded shares of Brunswick from an outperform rating to a sector perform rating and decreased their target price for the company from $55.00 to $47.00 in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Brunswick has an average rating of Buy and an average price target of $59.59.
Brunswick stock opened at $53.68 on Thursday. The business has a 50 day moving average of $47.01 and a 200-day moving average of $48.26. Brunswick has a 1 year low of $41.02 and a 1 year high of $69.82. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.98 and a quick ratio of 1.19. The company has a market capitalization of $4.61 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.27 and a beta of 1.70.
Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.06. Brunswick had a return on equity of 26.56% and a net margin of 3.10%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The firm’s revenue was down 16.9% compared to the same quarter last year. Equities analysts anticipate that Brunswick will post 4.23 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Monday, August 19th. Brunswick’s dividend payout ratio is presently 17.61%.
In other Brunswick news, CFO William Metzger sold 15,517 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $53.77, for a total transaction of $834,349.09. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its holdings in shares of Brunswick by 121.3% during the 1st quarter. Signaturefd LLC now owns 1,049 shares of the company’s stock worth $53,000 after buying an additional 575 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Brunswick during the 2nd quarter worth approximately $66,000. AdvisorNet Financial Inc boosted its holdings in shares of Brunswick by 63.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,546 shares of the company’s stock worth $71,000 after buying an additional 600 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Brunswick by 25.7% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,722 shares of the company’s stock worth $137,000 after buying an additional 556 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Brunswick by 71.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,295 shares of the company’s stock worth $152,000 after buying an additional 1,371 shares in the last quarter. Hedge funds and other institutional investors own 96.50% of the company’s stock.
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.
Further Reading: The role of implied volatility with call option volume
Receive News & Ratings for Brunswick Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brunswick and related companies with MarketBeat.com's FREE daily email newsletter.