Brunswick (NYSE:BC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Brunswick (NYSE:BC) posted its quarterly earnings data on Thursday. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01), Briefing.com reports. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The firm’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same period last year, the business earned $2.57 EPS.

Brunswick Price Performance

NYSE:BC traded up $1.08 during trading hours on Friday, reaching $81.08. 682,385 shares of the company traded hands, compared to its average volume of 754,562. The firm’s 50-day moving average is $89.13 and its 200-day moving average is $84.77. The stock has a market cap of $5.58 billion, a P/E ratio of 13.63 and a beta of 1.56. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.42 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio is currently 28.24%.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the transaction, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $84.53, for a total value of $526,960.02. Following the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John G. Buelow sold 2,426 shares of Brunswick stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $87.12, for a total value of $211,353.12. Following the sale, the executive vice president now directly owns 14,199 shares in the company, valued at approximately $1,237,016.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is owned by insiders.

Analysts Set New Price Targets

BC has been the topic of a number of research reports. Raymond James downgraded Brunswick from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Truist Financial lowered their target price on Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Morgan Stanley reduced their price target on Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday. Stifel Nicolaus upped their target price on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, BNP Paribas reiterated a “neutral” rating and set a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Brunswick currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.83.

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.