Brunswick (NYSE:BC) Releases FY24 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.00-$8.00 for the period, compared to the consensus estimate of $7.38. The company issued revenue guidance of $6.0-$6.2 billion, compared to the consensus revenue estimate of $6.03 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Brunswick Stock Performance

Shares of BC stock traded up $1.05 during trading hours on Friday, hitting $81.05. The stock had a trading volume of 682,385 shares, compared to its average volume of 754,562. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59. The stock’s 50 day moving average is $89.13 and its 200 day moving average is $84.77. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The firm has a market capitalization of $5.58 billion, a PE ratio of 13.62 and a beta of 1.56.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $2.57 earnings per share. Brunswick’s revenue for the quarter was down 21.7% compared to the same quarter last year. As a group, research analysts forecast that Brunswick will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 23rd. 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. Brunswick’s dividend payout ratio (DPR) is currently 28.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James cut Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. Morgan Stanley dropped their price target on Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research report on Friday. B. Riley upgraded Brunswick from a neutral rating to a buy rating and lifted their price objective for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. DA Davidson reissued a neutral rating and issued a $77.00 target price on shares of Brunswick in a research note on Friday, March 15th. Finally, BNP Paribas reissued a neutral rating and issued a $82.00 target price (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Brunswick has an average rating of Moderate Buy and an average target price of $92.83.

Insider Activity

In other news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the transaction, the chief executive officer now owns 272,626 shares in the company, valued at approximately $23,748,450.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were 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 of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. Insiders sold a total of 52,696 shares of company stock valued at $4,574,199 in the last 90 days. 0.81% of the stock is currently owned by insiders.

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.