Brunswick (NYSE:BC) Issues Quarterly Earnings Results

Brunswick (NYSE:BC) released its earnings results on Thursday. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10), RTT News reports. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the company earned $2.35 EPS. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year.

Brunswick Stock Performance

Shares of BC stock traded up $0.96 during trading hours on Friday, reaching $79.98. 1,573,593 shares of the company’s stock were exchanged, compared to its average volume of 977,837. 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 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $5.40 billion, a P/E ratio of 14.87 and a beta of 1.52. The business has a fifty day moving average price of $76.11 and a 200-day moving average price of $83.13.

Brunswick Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, August 21st. Brunswick’s dividend payout ratio is currently 31.23%.

Analysts Set New Price Targets

A number of research analysts have commented on BC shares. Benchmark restated a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research note on Friday. Stifel Nicolaus lowered their price target on Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price objective (down previously from $115.00) on shares of Brunswick in a research report on Friday. Morgan Stanley decreased their target price on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, B. Riley cut their price target on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.57.

Insider Transactions at Brunswick

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