Brunswick (NYSE:BC) Updates FY24 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $7.00-$8.00 for the period, compared to the consensus EPS estimate of $7.38. The company issued revenue guidance of $6.0-$6.2 billion, compared to the consensus revenue estimate of $6.03 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Morgan Stanley dropped their price objective on Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a research note on Friday. Stifel Nicolaus boosted their price target 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. Truist Financial cut their price objective on shares of Brunswick from $115.00 to $105.00 and set a buy rating for the company in a report on Friday, February 2nd. BNP Paribas reissued a neutral rating and set a $82.00 target price (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. Finally, DA Davidson reiterated a neutral rating and issued a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Brunswick presently has a consensus rating of Moderate Buy and a consensus target price of $92.83.

Brunswick Trading Up 1.3 %

BC stock traded up $1.05 during midday trading on Friday, hitting $81.05. The company had a trading volume of 682,385 shares, compared to its average volume of 754,562. 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 52 week low of $66.47 and a 52 week high of $99.68. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 13.62 and a beta of 1.56. The stock’s 50 day moving average price is $89.13 and its 200 day moving average price is $84.77.

Brunswick (NYSE:BC) last posted its 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). The business 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 revenue for the quarter was down 21.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 earnings per share. As a group, equities research analysts expect that Brunswick will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

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

Insider Activity

In other news, VP Christopher F. Dekker sold 6,234 shares of the company’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 sale, the vice president now directly owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the company’s 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 transaction, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,696 shares of company stock valued at $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.