Brunswick Corp. (BC) Increases Dividend to $0.17 Per Share
Brunswick Corp. (NYSE:BC) declared a quarterly dividend on Tuesday, October 18th. Investors of record on Tuesday, November 22nd will be paid a dividend of 0.165 per share on Thursday, December 15th. This represents a $0.66 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Brunswick Corp.’s previous quarterly dividend of $0.15.
Shares of Brunswick Corp. (NYSE:BC) traded up 0.48% on Tuesday, reaching $48.34. 498,927 shares of the company were exchanged. Brunswick Corp. has a 1-year low of $36.05 and a 1-year high of $55.65. The stock has a market capitalization of $4.36 billion, a PE ratio of 18.81 and a beta of 1.98. The company has a 50-day moving average price of $47.56 and a 200 day moving average price of $47.65.
Brunswick Corp. (NYSE:BC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. Brunswick Corp. had a net margin of 5.58% and a return on equity of 22.51%. The company earned $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $1.05 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts forecast that Brunswick Corp. will post $3.48 EPS for the current fiscal year.
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A number of research analysts have recently commented on the stock. B. Riley reaffirmed a “buy” rating and set a $65.00 price objective on shares of Brunswick Corp. in a research note on Friday, July 29th. Robert W. Baird reissued an “outperform” rating and set a $60.00 target price on shares of Brunswick Corp. in a research report on Wednesday, July 6th. Off Wall Street began coverage on shares of Brunswick Corp. in a research report on Monday, July 18th. They set a “sell” rating for the company. Zacks Investment Research raised shares of Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Tuesday, August 2nd. Finally, Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Brunswick Corp. in a research report on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.69.
Several institutional investors have recently added to or reduced their stakes in BC. Point72 Asset Management L.P. boosted its position in Brunswick Corp. by 103.0% in the second quarter. Point72 Asset Management L.P. now owns 411,400 shares of the company’s stock valued at $18,645,000 after buying an additional 208,700 shares during the period. Cannell Peter B & Co. Inc. acquired a new position in Brunswick Corp. during the second quarter valued at approximately $7,913,000. Marshall Wace LLP boosted its position in Brunswick Corp. by 2,582.8% in the second quarter. Marshall Wace LLP now owns 174,920 shares of the company’s stock valued at $7,927,000 after buying an additional 168,400 shares during the period. BlackRock Fund Advisors boosted its position in Brunswick Corp. by 3.7% in the second quarter. BlackRock Fund Advisors now owns 3,177,745 shares of the company’s stock valued at $144,015,000 after buying an additional 114,055 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Brunswick Corp. by 37.1% in the second quarter. Thrivent Financial for Lutherans now owns 317,399 shares of the company’s stock valued at $14,384,000 after buying an additional 85,850 shares during the period. Institutional investors own 95.22% of the company’s stock.
About Brunswick Corp.
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.
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