Brunswick Shares Gap Up After Analyst Upgrade (BC)
Shares of Brunswick (NYSE:BC) gapped up before the market opened on Friday after B. Riley raised their price target on the stock to $56.00, Analyst Ratings Network reports. The stock had previously closed at $42.11, but opened at $42.12. Brunswick shares last traded at $42.96, with a volume of 240,154 shares changing hands.
A number of other analysts have also recently weighed in on BC. Analysts at Raymond James upgraded shares of Brunswick from a “market perform” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. They now have a $49.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Brunswick in a research note on Monday, August 11th. They now have a $47.00 price target on the stock, down previously from $48.00. Finally, 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $48.98.
The stock has a 50-day moving average of $41.46 and a 200-day moving average of $42.64. The company has a market cap of $3.985 billion and a P/E ratio of 5.08.
Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.95 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.23 earnings per share. Brunswick’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that Brunswick will post $2.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders 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 1.19%. The ex-dividend date is Thursday, August 21st. This is a boost from Brunswick’s previous quarterly dividend of $0.10.
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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