Brunswick (NYSE:BC) Issues Q2 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.850-2.050 for the period, compared to the consensus EPS 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 1.4 %

Shares of Brunswick stock traded up $1.08 during trading hours on Friday, reaching $81.08. 682,420 shares of the company’s stock were exchanged, compared to its average volume of 752,359. The company has a 50 day moving average of $89.13 and a two-hundred day moving average of $84.77. Brunswick has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The company has a current ratio of 1.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56.

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

Brunswick Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BC shares. Raymond James downgraded shares of Brunswick from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Truist Financial cut their target price on shares of Brunswick from $115.00 to $105.00 and set a buy rating for the company in a research note on Friday, February 2nd. Stifel Nicolaus raised their target price on shares of Brunswick from $88.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, January 17th. BNP Paribas reiterated a neutral rating and issued a $82.00 target price (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Finally, Morgan Stanley cut their target price on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research note on Friday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Brunswick has an average rating of Moderate Buy and a consensus price target of $92.83.

Insiders Place Their Bets

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

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.