Brunswick Upgraded to “Strong-Buy” at Raymond James (BC)
Brunswick (NYSE:BC) was upgraded by Raymond James from a “market perform” rating to a “strong-buy” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
Brunswick (NYSE:BC) opened at 40.44 on Tuesday. Brunswick has a 1-year low of $35.40 and a 1-year high of $47.69. The stock’s 50-day moving average is $41.35 and its 200-day moving average is $42.55. The company has a market cap of $3.756 billion and a P/E ratio of 4.82.
Brunswick (NYSE:BC) last announced its earnings results on Thursday, July 24th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.04. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts predict that Brunswick will post $2.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Monday, August 25th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 21st. This is an increase from Brunswick’s previous quarterly dividend of $0.10.
A number of other analysts have also recently weighed in on BC. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Brunswick in a research note on Monday. They now have a $47.00 price target on the stock, down previously from $48.00. Separately, analysts at Zacks downgraded shares of Brunswick from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 23rd. They now have a $39.80 price target on the stock. Finally, analysts at B. Riley upgraded shares of Brunswick from a “neutral” rating to a “buy” rating in a research note on Friday, July 18th. They now have a $52.00 price target on the stock, up previously from $47.50. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $48.40.
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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