Brunswick Corp. (BC) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS
Brunswick Corp. (NYSE:BC) announced its earnings results on Thursday. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.07, ARN reports. The company had revenue of $892.40 million for the quarter, compared to the consensus estimate of $907.84 million. During the same quarter last year, the company posted $0.43 earnings per share. Brunswick Corp.’s revenue was up 2.1% compared to the same quarter last year. Brunswick Corp. updated its FY13 guidance to $2.65-2.70 EPS.
BC has been the subject of a number of recent research reports. Analysts at Citigroup Inc. initiated coverage on shares of Brunswick Corp. in a research note to investors on Wednesday, October 9th. They set a “buy” rating on the stock. On the ratings front, analysts at Zacks upgraded shares of Brunswick Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 8th. They now have a $44.00 price target on the stock. Finally, analysts at SunTrust reiterated a “buy” rating on shares of Brunswick Corp. in a research note to investors on Friday, September 13th. They now have a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.75.
Brunswick Corp. (NYSE:BC) opened at 44.39 on Thursday. Brunswick Corp. has a 52-week low of $21.08 and a 52-week high of $39.86. The stock has a 50-day moving average of $37. and a 200-day moving average of $34.47. The company has a market cap of $4.019 billion and a price-to-earnings ratio of 73.98.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 13th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.90%.
In other Brunswick Corp. news, VP Alan L. Lowe unloaded 23,343 shares of the company’s stock on the open market in a transaction dated Thursday, October 17th. The shares were sold at an average price of $43.00, for a total value of $1,003,749.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Brunswick Corporation (NYSE:BC) is a worldwide designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness equipment and bowling and billiards equipment.
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