Brunswick (NYSE:BC) Price Target Lowered to $97.00 at B. Riley

Brunswick (NYSE:BC) had its price target cut by B. Riley from $108.00 to $97.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Brunswick’s Q3 2024 earnings at $2.22 EPS, Q4 2024 earnings at $1.99 EPS, FY2024 earnings at $7.44 EPS, Q1 2025 earnings at $1.91 EPS, Q2 2025 earnings at $2.21 EPS, Q3 2025 earnings at $2.54 EPS, Q4 2025 earnings at $2.21 EPS and FY2025 earnings at $8.86 EPS.

Other analysts have also recently issued research reports about the company. Roth Mkm reaffirmed a buy rating and issued a $94.00 price target on shares of Brunswick in a report on Thursday, April 25th. BNP Paribas reaffirmed a neutral rating and issued a $82.00 price target (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. Truist Financial lowered their price target on Brunswick from $95.00 to $90.00 and set a buy rating on the stock in a report on Monday, July 8th. Citigroup lowered their price target on Brunswick from $100.00 to $88.00 and set a buy rating on the stock in a report on Monday, July 8th. Finally, DA Davidson reaffirmed a neutral rating and issued a $77.00 price target on shares of Brunswick in a report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $90.31.

Brunswick Stock Performance

NYSE:BC opened at $77.35 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 14.38 and a beta of 1.52. The business’s fifty day moving average is $76.87 and its 200 day moving average is $84.21.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The business’s revenue for the quarter was down 21.7% compared to the same quarter last year. Research analysts predict that Brunswick will post 7.26 EPS for the current year.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, May 13th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.68 annualized dividend and a yield of 2.17%. Brunswick’s payout ratio is 31.23%.

Insider Buying and Selling

In related news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the transaction, the vice president now directly owns 58,076 shares in the company, valued at approximately $4,767,458.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the sale, the director now directly owns 23,211 shares in the company, valued at approximately $1,864,771.74. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Brenna Preisser sold 1,225 shares of Brunswick stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the completion of the sale, the vice president now owns 58,076 shares in the company, valued at $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brunswick

A number of large investors have recently made changes to their positions in BC. Principal Securities Inc. bought a new stake in shares of Brunswick in the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. purchased a new position in shares of Brunswick in the 4th quarter valued at approximately $30,000. Rise Advisors LLC lifted its stake in shares of Brunswick by 249.5% in the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 232 shares during the period. SRS Capital Advisors Inc. lifted its stake in shares of Brunswick by 347.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock valued at $42,000 after purchasing an additional 337 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Brunswick by 43,700.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after purchasing an additional 437 shares during the period. 99.34% of the stock is currently owned by institutional investors.

About Brunswick

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.