Brunswick Corp. (BC) Shares Gap Up to $47.80
Shares of Brunswick Corp. (NYSE:BC) gapped up before the market opened on Wednesday . The stock had previously closed at $47.53, but opened at $47.80. Brunswick Corp. shares last traded at $48.68, with a volume of 1,182,386 shares changing hands.
BC has been the topic of several research reports. B. Riley reaffirmed a “buy” rating and set a $65.00 price objective on shares of Brunswick Corp. in a research report on Monday, August 22nd. Off Wall Street began coverage on Brunswick Corp. in a research report on Monday, July 18th. They issued a “sell” rating on the stock. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Brunswick Corp. in a research report on Tuesday, June 21st. Robert W. Baird reissued an “outperform” rating on shares of Brunswick Corp. in a research report on Saturday, June 25th. Finally, Zacks Investment Research raised Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. Brunswick Corp. has an average rating of “Buy” and an average target price of $56.09.
The firm’s 50 day moving average price is $47.08 and its 200 day moving average price is $47.27. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 19.15 and a beta of 1.96.
Brunswick Corp. (NYSE:BC) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. Brunswick Corp. had a net margin of 5.58% and a return on equity of 22.51%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm earned $1.05 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts predict that Brunswick Corp. will post $3.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were paid a dividend of $0.15 per share. The ex-dividend date was Friday, August 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Brunswick Corp.’s dividend payout ratio is presently 23.26%.
In other news, CFO William Metzger sold 19,051 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $49.52, for a total transaction of $943,405.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.50% of the company’s stock.
A number of large investors have recently made changes to their positions in BC. Eagle Asset Management Inc. increased its stake in shares of Brunswick Corp. by 2.2% in the second quarter. Eagle Asset Management Inc. now owns 1,522,663 shares of the company’s stock valued at $69,007,000 after buying an additional 33,288 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in shares of Brunswick Corp. during the first quarter valued at $35,811,000. BNP Paribas Arbitrage SA increased its stake in shares of Brunswick Corp. by 11.6% in the second quarter. BNP Paribas Arbitrage SA now owns 35,811 shares of the company’s stock valued at $1,623,000 after buying an additional 3,709 shares during the period. Boston Advisors LLC purchased a new stake in shares of Brunswick Corp. during the first quarter valued at $4,526,000. Finally, Geode Capital Management LLC increased its stake in shares of Brunswick Corp. by 44.2% in the first quarter. Geode Capital Management LLC now owns 890,445 shares of the company’s stock valued at $42,722,000 after buying an additional 272,775 shares during the period. Institutional investors own 95.26% of the company’s stock.
About Brunswick Corp.
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.
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