Brunswick (NYSE:BC) Releases FY 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 7.000-8.000 for the period, compared to the consensus EPS estimate of 7.420. The company issued revenue guidance of $6.0 billion-$6.2 billion, compared to the consensus revenue estimate of $6.0 billion. Brunswick also updated its FY24 guidance to $7.00-$8.00 EPS.

Brunswick Price Performance

NYSE BC traded up $1.05 during trading on Friday, hitting $81.05. 682,385 shares of the stock traded hands, compared to its average volume of 754,562. The company has a market capitalization of $5.58 billion, a P/E ratio of 13.62 and a beta of 1.56. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The firm has a 50-day simple moving average of $89.13 and a 200-day simple moving average of $84.77. The company has a quick ratio of 0.59, a current ratio of 1.43 and a debt-to-equity ratio of 0.95.

Brunswick (NYSE:BC) last released its quarterly earnings data 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 6.57% and a return on equity of 29.78%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business earned $2.57 EPS. Brunswick’s revenue for the quarter was down 21.7% compared to the same quarter last year. As a group, analysts predict that Brunswick will post 7.5 EPS for the current year.

Brunswick Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. B. Riley upgraded Brunswick from a neutral rating to a buy rating and boosted their target price for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Stifel Nicolaus boosted their price objective on Brunswick from $88.00 to $97.00 and gave the company a buy rating in a report on Wednesday, January 17th. Raymond James downgraded Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. Truist Financial decreased their target price on Brunswick from $115.00 to $105.00 and set a buy rating for the company in a research report on Friday, February 2nd. Finally, Roth Mkm restated a buy rating and issued a $94.00 price target on shares of Brunswick in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Brunswick has an average rating of Moderate Buy and an average target price of $92.83.

Insider Transactions at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value 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 approximately $2,973,427.28. The disclosure for this sale can be found here. In the last three months, insiders sold 52,696 shares of company stock valued at $4,574,199. Corporate 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.