Brunswick (NYSE:BC) Updates Q2 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 2.040. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Brunswick Stock Up 1.3 %

Shares of Brunswick stock traded up $1.05 on Friday, reaching $81.05. 682,385 shares of the company were exchanged, compared to its average volume of 754,562. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 13.62 and a beta of 1.56. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95. Brunswick has a one year low of $66.47 and a one year high of $99.68. The company has a 50-day moving average of $89.13 and a 200 day moving average of $84.77.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company posted $2.57 earnings per share. The business’s revenue was down 21.7% compared to the same quarter last year. On average, equities research analysts forecast that Brunswick will post 7.5 earnings per share for the current year.

Brunswick Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on BC shares. Raymond James downgraded Brunswick from an outperform rating to a market perform rating in a research note on Thursday, January 4th. DA Davidson reaffirmed a neutral rating and set a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. Stifel Nicolaus increased their price objective on shares of Brunswick from $88.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, January 17th. Roth Mkm restated a buy rating and set a $94.00 target price on shares of Brunswick in a research note on Thursday. Finally, Truist Financial decreased 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $92.83.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the sale, the chief executive officer now owns 272,626 shares in the company, valued at approximately $23,748,450.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,696 shares of company stock worth $4,574,199. Corporate insiders own 0.81% of the company’s stock.

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.