$1.17 Billion in Sales Expected for Brunswick Corporation (BC) This Quarter
Wall Street analysts expect Brunswick Corporation (NYSE:BC) to report sales of $1.17 billion for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Brunswick Corporation’s earnings. The highest sales estimate is $1.17 billion and the lowest is $1.16 billion. Brunswick Corporation reported sales of $1.09 billion in the same quarter last year, which indicates a positive year over year growth rate of 7.3%. The company is expected to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Brunswick Corporation will report full year sales of $1.17 billion for the current year, with estimates ranging from $4.80 billion to $4.86 billion. For the next fiscal year, analysts expect that the firm will post sales of $5.16 billion per share, with estimates ranging from $5.05 billion to $5.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Brunswick Corporation.
Brunswick Corporation (NYSE:BC) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.02. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. Brunswick Corporation’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $1.17 earnings per share.
Several analysts have issued reports on the company. Forward View set a $60.00 target price on Brunswick Corporation and gave the company a “hold” rating in a research note on Sunday, July 30th. BidaskClub lowered Brunswick Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research lowered Brunswick Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and issued a $65.00 target price on shares of Brunswick Corporation in a research note on Wednesday, July 12th. Finally, Northcoast Research lowered Brunswick Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.92.
Shares of Brunswick Corporation (BC) opened at 52.99 on Tuesday. The stock has a 50 day moving average of $57.25 and a 200 day moving average of $58.68. The firm has a market cap of $4.70 billion, a P/E ratio of 16.81 and a beta of 1.81. Brunswick Corporation has a 52 week low of $42.02 and a 52 week high of $63.82.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, August 18th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.25%. Brunswick Corporation’s payout ratio is 20.95%.
In related news, insider William Metzger sold 15,301 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $62.50, for a total transaction of $956,312.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark D. Schwabero sold 29,552 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $63.74, for a total value of $1,883,644.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,439 shares of company stock worth $3,258,968. 1.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. LSV Asset Management boosted its position in Brunswick Corporation by 18.5% in the first quarter. LSV Asset Management now owns 238,490 shares of the company’s stock valued at $14,595,000 after buying an additional 37,200 shares during the last quarter. State Treasurer State of Michigan boosted its position in Brunswick Corporation by 0.8% in the first quarter. State Treasurer State of Michigan now owns 36,400 shares of the company’s stock valued at $2,228,000 after buying an additional 300 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Brunswick Corporation by 3.9% in the first quarter. Great West Life Assurance Co. Can now owns 53,122 shares of the company’s stock valued at $3,249,000 after buying an additional 2,008 shares during the last quarter. Channing Capital Management LLC acquired a new position in Brunswick Corporation during the first quarter valued at approximately $5,761,000. Finally, Canada Pension Plan Investment Board boosted its position in Brunswick Corporation by 57.5% in the first quarter. Canada Pension Plan Investment Board now owns 65,500 shares of the company’s stock valued at $4,009,000 after buying an additional 23,900 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.
Brunswick Corporation Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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