Brunswick (NYSE:BC) Releases Q2 Earnings Guidance

Brunswick (NYSE:BC) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.85-$2.05 for the period, compared to the consensus estimate of $2.03. The company issued revenue guidance of $1.50-$1.60 billion, compared to the consensus revenue estimate of $1.60 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Roth Mkm restated a buy rating and set a $94.00 target price on shares of Brunswick in a report on Thursday. BNP Paribas reiterated a neutral rating and issued a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. DA Davidson reiterated a neutral rating and issued a $77.00 price target on shares of Brunswick in a research note on Friday, March 15th. Truist Financial dropped their price target on shares of Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a research note on Friday, February 2nd. Finally, Morgan Stanley dropped their price target on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Brunswick has an average rating of Moderate Buy and an average price target of $92.83.

Brunswick Stock Performance

Shares of NYSE BC traded up $1.08 during midday trading on Friday, hitting $81.08. 682,420 shares of the company’s stock traded hands, compared to its average volume of 752,359. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 15.07 and a beta of 1.56. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 1.68. The firm has a fifty day moving average of $89.13 and a 200 day moving average of $84.77.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the company earned $2.57 EPS. Brunswick’s revenue for the quarter was down 21.7% compared to the same quarter last year. On average, analysts forecast that Brunswick will post 7.5 earnings per share for the current year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 annualized dividend and a dividend yield of 2.07%. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio is presently 31.23%.

Insider Activity

In related news, CFO Ryan M. Gwillim sold 9,036 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $87.10, for a total value of $787,035.60. Following the completion of the sale, the chief financial officer now directly owns 28,966 shares of the company’s stock, valued at approximately $2,522,938.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Ryan M. Gwillim sold 9,036 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $87.10, for a total value of $787,035.60. Following the completion of the sale, the chief financial officer now directly owns 28,966 shares of the company’s stock, valued at approximately $2,522,938.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the sale, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. Insiders sold 52,696 shares of company stock valued at $4,574,199 in the last quarter. 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.