Brunswick Corporation (NYSE:BC) Price Target Cut to $68.00 by Analysts at BMO Capital Markets
A number of other research analysts also recently commented on BC. B. Riley reissued a buy rating and set a $72.00 target price on shares of Brunswick Corporation in a research report on Wednesday, May 3rd. BidaskClub downgraded shares of Brunswick Corporation from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Brunswick Corporation from a hold rating to a sell rating in a research report on Monday, July 24th. Stifel Nicolaus raised their target price on shares of Brunswick Corporation from $66.00 to $68.00 and gave the company a buy rating in a research report on Friday, July 14th. Finally, Royal Bank Of Canada reissued a buy rating and set a $65.00 target price on shares of Brunswick Corporation in a research report on Wednesday, July 12th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Brunswick Corporation presently has an average rating of Buy and an average target price of $65.82.
Shares of Brunswick Corporation (BC) opened at 56.61 on Friday. Brunswick Corporation has a 1-year low of $42.02 and a 1-year high of $63.82. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 17.96 and a beta of 1.83. The company’s 50-day moving average is $61.38 and its 200 day moving average is $59.19.
Brunswick Corporation (NYSE:BC) last posted its earnings results on Thursday, July 27th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. Equities analysts anticipate that Brunswick Corporation will post $4.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 22nd will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, August 18th. Brunswick Corporation’s payout ratio is currently 20.95%.
In other news, insider William Metzger sold 559 shares of Brunswick Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $62.50, for a total value of $34,937.50. Following the transaction, the insider now owns 115,673 shares of the company’s stock, valued at approximately $7,229,562.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark D. Schwabero sold 29,552 shares of Brunswick Corporation stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $63.74, for a total transaction of $1,883,644.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,785 shares of company stock worth $3,395,646. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BC. Sei Investments Co. increased its position in shares of Brunswick Corporation by 3.8% in the second quarter. Sei Investments Co. now owns 147,153 shares of the company’s stock worth $9,231,000 after buying an additional 5,375 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Brunswick Corporation by 0.6% in the second quarter. Texas Permanent School Fund now owns 65,204 shares of the company’s stock worth $4,090,000 after buying an additional 387 shares during the last quarter. World Asset Management Inc increased its position in shares of Brunswick Corporation by 3.0% in the second quarter. World Asset Management Inc now owns 6,361 shares of the company’s stock worth $399,000 after buying an additional 183 shares during the last quarter. Braun Stacey Associates Inc. purchased a new position in shares of Brunswick Corporation during the second quarter worth about $2,532,000. Finally, Grandfield & Dodd LLC increased its position in shares of Brunswick Corporation by 46.3% in the second quarter. Grandfield & Dodd LLC now owns 141,110 shares of the company’s stock worth $8,852,000 after buying an additional 44,670 shares during the last quarter. 99.69% of the stock is currently owned by hedge funds and other institutional investors.
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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