Brunswick Corporation’s (BC) “Buy” Rating Reaffirmed at B. Riley
A number of other research analysts also recently commented on BC. Jefferies Group LLC reissued a hold rating and set a $56.00 target price on shares of Brunswick Corporation in a research report on Friday, March 31st. Zacks Investment Research downgraded shares of Brunswick Corporation from a hold rating to a sell rating in a research report on Friday, April 14th. Stifel Nicolaus reaffirmed an outperform rating and issued a $65.00 price objective (up previously from $64.00) on shares of Brunswick Corporation in a research report on Friday, April 14th. Royal Bank Of Canada reaffirmed a buy rating and issued a $65.00 price objective on shares of Brunswick Corporation in a research report on Sunday, June 11th. Finally, BidaskClub raised shares of Brunswick Corporation from a hold rating to a buy rating in a research report on Tuesday, June 13th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $65.82.
Shares of Brunswick Corporation (NYSE BC) opened at 56.61 on Friday. The company’s 50-day moving average is $61.38 and its 200 day moving average is $59.19. 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.
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.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, August 18th. Brunswick Corporation’s payout ratio is 20.95%.
In related news, insider John C. Pfeifer sold 2,346 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $58.26, for a total value of $136,677.96. Following the completion of the transaction, the insider now directly owns 44,488 shares in the company, valued at approximately $2,591,870.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William Metzger sold 559 shares of the business’s 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 completion of the transaction, the insider now owns 115,673 shares of the company’s stock, valued at $7,229,562.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,785 shares of company stock valued at $3,395,646. Company insiders own 1.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its position in Brunswick Corporation by 66.3% in the first quarter. Russell Investments Group Ltd. now owns 222,171 shares of the company’s stock valued at $13,592,000 after buying an additional 88,584 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Brunswick Corporation by 76.8% in the first quarter. Janney Montgomery Scott LLC now owns 10,188 shares of the company’s stock valued at $624,000 after buying an additional 4,427 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in Brunswick Corporation by 15.6% in the first quarter. First Citizens Bank & Trust Co. now owns 6,057 shares of the company’s stock valued at $371,000 after buying an additional 817 shares in the last quarter. James Investment Research Inc. purchased a new position in Brunswick Corporation during the first quarter valued at about $145,000. Finally, Hermes Investment Management Ltd. boosted its position in Brunswick Corporation by 38.2% in the first quarter. Hermes Investment Management Ltd. now owns 965,635 shares of the company’s stock valued at $59,097,000 after buying an additional 266,822 shares in the last quarter. Hedge funds and other institutional investors own 99.69% 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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