Analysts Expect Brunswick Corporation (BC) Will Post Quarterly Sales of $1.17 Billion
Equities research analysts expect Brunswick Corporation (NYSE:BC) to post $1.17 billion in sales for the current fiscal quarter, according to Zacks. 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 during the same quarter last year, which indicates a positive year over year growth rate of 7.3%. The company is expected to announce 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 forecast that the firm will report sales of $5.17 billion per share, with estimates ranging from $5.05 billion to $5.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Brunswick Corporation.
Brunswick Corporation (NYSE:BC) last issued its earnings results on Thursday, July 27th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $1.17 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis.
BC has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Thursday, June 29th. BMO Capital Markets decreased their price target on shares of Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. Stifel Nicolaus reissued an “outperform” rating and issued a $65.00 price target (up previously from $64.00) on shares of Brunswick Corporation in a report on Friday, April 14th. Forward View set a $60.00 price target on shares of Brunswick Corporation and gave the stock a “hold” rating in a report on Sunday, July 30th. Finally, BidaskClub lowered shares of Brunswick Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Brunswick Corporation has an average rating of “Buy” and an average target price of $65.82.
In related news, Chairman Mark D. Schwabero sold 29,552 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $63.74, for a total transaction of $1,883,644.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Metzger sold 559 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $62.50, for a total transaction of $34,937.50. Following the transaction, the insider now directly owns 115,673 shares in the company, valued at approximately $7,229,562.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,439 shares of company stock worth $3,258,968. 1.00% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in BC. BlackRock Inc. raised its position in Brunswick Corporation by 8,617.9% in the first quarter. BlackRock Inc. now owns 7,488,087 shares of the company’s stock valued at $458,271,000 after buying an additional 7,402,194 shares in the last quarter. AJO LP boosted its stake in shares of Brunswick Corporation by 1,548.4% in the second quarter. AJO LP now owns 1,538,793 shares of the company’s stock valued at $96,528,000 after buying an additional 1,445,444 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Brunswick Corporation by 155.7% in the first quarter. TimesSquare Capital Management LLC now owns 1,666,400 shares of the company’s stock valued at $101,984,000 after buying an additional 1,014,600 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Brunswick Corporation during the second quarter valued at $42,936,000. Finally, Morgan Stanley boosted its stake in shares of Brunswick Corporation by 97.3% in the first quarter. Morgan Stanley now owns 1,236,123 shares of the company’s stock valued at $75,651,000 after buying an additional 609,752 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.
Shares of Brunswick Corporation (NYSE BC) traded up 1.68% during mid-day trading on Friday, reaching $54.95. 144,425 shares of the company’s stock were exchanged. Brunswick Corporation has a 52-week low of $42.02 and a 52-week high of $63.82. The company has a 50 day moving average price of $60.11 and a 200 day moving average price of $59.11. The firm has a market cap of $4.88 billion, a P/E ratio of 17.43 and a beta of 1.81.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 22nd will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, August 18th. Brunswick Corporation’s dividend payout ratio is currently 20.95%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Brunswick Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brunswick Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.