Q3 2016 EPS Estimates for Brunswick Corp. (BC) Reduced by Wedbush
Brunswick Corp. (NYSE:BC) – Analysts at Wedbush lowered their Q3 2016 earnings estimates for Brunswick Corp. in a note issued to investors on Monday. Wedbush analyst J. Hardiman now forecasts that the brokerage will earn $0.90 per share for the quarter, down from their prior forecast of $0.91. Wedbush has a “Outperform” rating and a $60.00 price target on the stock.
Brunswick Corp. (NYSE:BC) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. The business earned $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Brunswick Corp. had a return on equity of 22.51% and a net margin of 5.58%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.05 EPS.
Several other brokerages have also recently weighed in on BC. B. Riley restated a “buy” rating and issued a $65.00 price target on shares of Brunswick Corp. in a research report on Friday, July 29th. Off Wall Street assumed coverage on shares of Brunswick Corp. in a research report on Monday, July 18th. They issued a “sell” rating on the stock. Imperial Capital initiated coverage on shares of Brunswick Corp. in a research report on Tuesday, September 27th. They issued an “outperform” rating and a $60.00 price target on the stock. Zacks Investment Research raised shares of Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective on shares of Brunswick Corp. in a research note on Saturday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Brunswick Corp. has an average rating of “Buy” and an average price target of $56.69.
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Brunswick Corp. (NYSE:BC) traded up 0.87% during midday trading on Tuesday, hitting $48.53. The stock had a trading volume of 147,315 shares. The company has a market cap of $4.38 billion, a P/E ratio of 18.88 and a beta of 1.98. The stock’s 50-day moving average is $47.56 and its 200-day moving average is $47.65. Brunswick Corp. has a one year low of $36.05 and a one year high of $55.65.
A number of hedge funds have recently added to or reduced their stakes in BC. Fuller & Thaler Asset Management Inc. acquired a new stake in Brunswick Corp. during the second quarter worth $109,000. Advisors Asset Management Inc. purchased a new position in shares of Brunswick Corp. during the second quarter worth approximately $109,000. BlackRock Japan Co. Ltd increased its position in shares of Brunswick Corp. by 362.8% in the first quarter. BlackRock Japan Co. Ltd now owns 4,272 shares of the company’s stock worth $205,000 after buying an additional 3,349 shares in the last quarter. World Asset Management Inc increased its position in shares of Brunswick Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 4,441 shares of the company’s stock worth $201,000 after buying an additional 12 shares in the last quarter. Finally, Advisor Group Inc. purchased a new position in shares of Brunswick Corp. during the second quarter worth approximately $210,000. 95.22% of the stock is owned by institutional investors.
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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