FY2016 Earnings Forecast for Brunswick Corp. Issued By Wedbush (BC)
Brunswick Corp. (NYSE:BC) – Equities researchers at Wedbush dropped their FY2016 EPS estimates for shares of Brunswick Corp. in a note issued to investors on Monday. Wedbush analyst J. Hardiman now forecasts that the brokerage will earn $3.50 per share for the year, down from their prior forecast of $3.52. Wedbush currently has a “Outperform” rating and a $60.00 target price on the stock. Wedbush also issued estimates for Brunswick Corp.’s FY2017 earnings at $4.11 EPS.
Brunswick Corp. (NYSE:BC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.18 by $0.01. The business earned $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Brunswick Corp. had a return on equity of 22.51% and a net margin of 5.58%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS.
A number of other equities analysts also recently weighed in on the stock. Off Wall Street initiated coverage on shares of Brunswick Corp. in a research note on Monday, July 18th. They issued a “sell” rating on the stock. Zacks Investment Research raised shares of Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, August 2nd. 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. Imperial Capital started coverage on shares of Brunswick Corp. in a research report on Tuesday, September 27th. They set an “outperform” rating and a $60.00 target price on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price on shares of Brunswick Corp. in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $56.69.
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Brunswick Corp. (NYSE:BC) traded up 0.87% during mid-day trading on Wednesday, hitting $48.76. The stock had a trading volume of 341,963 shares. The company has a 50-day moving average of $47.62 and a 200-day moving average of $47.65. Brunswick Corp. has a 12-month low of $36.05 and a 12-month high of $55.65. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 18.97 and a beta of 1.98.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.37%. This is a positive change from Brunswick Corp.’s previous quarterly dividend of $0.15. Brunswick Corp.’s payout ratio is currently 23.26%.
A number of institutional investors have recently modified their holdings of BC. Silvercrest Asset Management Group LLC purchased a new position in shares of Brunswick Corp. during the first quarter valued at about $35,811,000. AXA purchased a new position in shares of Brunswick Corp. during the first quarter valued at about $24,679,000. Boston Partners raised its position in shares of Brunswick Corp. by 9.9% in the second quarter. Boston Partners now owns 5,533,911 shares of the company’s stock valued at $250,796,000 after buying an additional 499,837 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Brunswick Corp. by 13.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,487,571 shares of the company’s stock valued at $167,334,000 after buying an additional 424,611 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Brunswick Corp. by 206.3% in the first quarter. Goldman Sachs Group Inc. now owns 439,147 shares of the company’s stock valued at $21,070,000 after buying an additional 295,783 shares in the last quarter. Hedge funds and other 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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