Brunswick (NYSE:BC) Updates Q2 Earnings Guidance

Brunswick (NYSE:BC) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.85-$2.05 for the period, compared to the consensus earnings per share 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

Several equities research analysts recently weighed in on the company. Raymond James lowered Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. BNP Paribas restated a neutral rating and set a $82.00 price target (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. B. Riley raised Brunswick from a neutral rating to a buy rating and boosted their target price for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Morgan Stanley dropped their target price on Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a report on Friday. Finally, Stifel Nicolaus boosted their target price on Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $92.83.

Brunswick Stock Performance

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

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The company’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 company earned $2.57 earnings per share. As a group, equities research analysts anticipate that Brunswick will post 7.5 EPS for the current fiscal year.

Brunswick Increases Dividend

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

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP John G. Buelow sold 2,426 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $87.12, for a total value of $211,353.12. Following the transaction, the executive vice president now owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David M. Foulkes sold 35,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now 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 90 days, insiders sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is owned by insiders.

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.