Brunswick (NYSE:BC) Issues Q2 Earnings Guidance

Brunswick (NYSE:BC) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.85-$2.05 for the period, compared to the consensus estimate of $2.03. The company issued revenue guidance of $1.50-$1.60 billion, compared to the consensus revenue estimate of $1.60 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Brunswick Price Performance

Shares of NYSE:BC traded up $1.05 during trading on Friday, reaching $81.05. 682,385 shares of the company’s stock traded hands, compared to its average volume of 754,562. The firm has a market cap of $5.58 billion, a PE ratio of 13.62 and a beta of 1.56. Brunswick has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The company has a quick ratio of 0.59, a current ratio of 1.43 and a debt-to-equity ratio of 0.95. The company has a 50-day simple moving average of $89.13 and a 200-day simple moving average of $84.77.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the company posted $2.57 earnings per share. The business’s revenue was down 21.7% on a year-over-year basis. As a group, analysts predict that Brunswick will post 7.5 earnings per share for the current year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s dividend payout ratio is 28.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James cut shares of Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. Stifel Nicolaus raised their price target on shares of Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Morgan Stanley decreased their price objective on Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a report on Friday. B. Riley upgraded Brunswick from a neutral rating to a buy rating and increased their price objective for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. Finally, Roth Mkm restated a buy rating and issued a $94.00 target price on shares of Brunswick in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $92.83.

Insider Buying and Selling at Brunswick

In other news, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the sale, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the transaction, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John G. Buelow sold 2,426 shares of Brunswick stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $87.12, for a total value of $211,353.12. Following the completion of the transaction, the executive vice president now owns 14,199 shares in the company, valued at $1,237,016.88. The disclosure for this sale can be found here. Insiders sold 52,696 shares of company stock worth $4,574,199 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.