Brunswick Corporation (BC) Downgraded by Zacks Investment Research to “Hold”
Brunswick Corporation (NYSE:BC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Brunswick Corporation is a manufacturer and marketer of leading consumer brands in four segments: Marine Engines, Boats, Fitness and Bowling & Billiards. The company also owns and operates: Brunswick bowling centers across the United States and internationally; Land ‘N’ Sea, a distributor of marine parts and accessories; and Omni Fitness, a chain of specialty fitness equipment retail stores. “
BC has been the topic of a number of other research reports. BMO Capital Markets reiterated a “buy” rating and issued a $72.00 price target on shares of Brunswick Corporation in a research note on Monday, March 20th. Stifel Nicolaus reiterated an “outperform” rating and issued a $65.00 price target (up previously from $64.00) on shares of Brunswick Corporation in a research note on Friday, April 14th. Jefferies Group LLC restated a “hold” rating and set a $56.00 target price on shares of Brunswick Corporation in a research report on Friday, March 31st. Royal Bank Of Canada restated a “buy” rating and set a $65.00 target price on shares of Brunswick Corporation in a research report on Sunday, June 11th. Finally, Northcoast Research lowered shares of Brunswick Corporation from a “buy” rating to a “neutral” rating in a research report on Monday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $66.70.
Brunswick Corporation (BC) traded up 1.87% during midday trading on Tuesday, hitting $62.04. 1,858,475 shares of the company traded hands. The stock’s 50-day moving average price is $58.36 and its 200 day moving average price is $58.23. Brunswick Corporation has a 12-month low of $42.02 and a 12-month high of $63.82. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 20.60 and a beta of 1.83.
Brunswick Corporation (NYSE:BC) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. Brunswick Corporation had a net margin of 6.03% and a return on equity of 23.15%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.71 EPS. On average, equities analysts forecast that Brunswick Corporation will post $4.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Tuesday, May 23rd were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.06%. The ex-dividend date was Friday, May 19th. Brunswick Corporation’s payout ratio is 22.00%.
COPYRIGHT VIOLATION WARNING: “Brunswick Corporation (BC) Downgraded by Zacks Investment Research to “Hold”” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://www.americanbankingnews.com/2017/07/11/brunswick-corporation-bc-downgraded-by-zacks-investment-research-to-hold.html.
In other Brunswick Corporation news, insider John C. Pfeifer sold 2,346 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $58.26, for a total value of $136,677.96. Following the completion of the transaction, the insider now directly owns 44,488 shares in the company, valued at approximately $2,591,870.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark D. Schwabero sold 29,552 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $63.74, for a total transaction of $1,883,644.48. The disclosure for this sale can be found here. In the last three months, insiders sold 51,047 shares of company stock valued at $3,221,180. 1.00% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in BC. James Investment Research Inc. purchased a new stake in Brunswick Corporation during the first quarter valued at $145,000. Venturi Wealth Management LLC bought a new stake in Brunswick Corporation during the first quarter worth approximately $207,000. Envestnet Asset Management Inc. boosted its stake in Brunswick Corporation by 59.8% in the first quarter. Envestnet Asset Management Inc. now owns 3,932 shares of the company’s stock worth $240,000 after buying an additional 1,472 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Brunswick Corporation during the first quarter worth approximately $271,000. Finally, Timber Hill LLC bought a new stake in Brunswick Corporation during the first quarter worth approximately $303,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.
About Brunswick Corporation
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Brunswick Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brunswick Corporation and related companies with MarketBeat.com's FREE daily email newsletter.