Zacks: Analysts Anticipate Brunswick Corporation (BC) Will Post Quarterly Sales of $1.17 Billion
Equities analysts predict that Brunswick Corporation (NYSE:BC) will announce $1.17 billion in sales for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Brunswick Corporation’s earnings. The lowest sales estimate is $1.15 billion and the highest is $1.17 billion. Brunswick Corporation posted sales of $1.09 billion during the same quarter last year, which would indicate a positive year over year growth rate of 7.3%. The firm is scheduled to report its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Brunswick Corporation will report full year sales of $1.17 billion for the current year, with estimates ranging from $4.81 billion to $4.86 billion. For the next financial year, analysts anticipate that the company will post sales of $5.16 billion per share, with estimates ranging from $5.05 billion to $5.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that follow Brunswick Corporation.
Brunswick Corporation (NYSE:BC) last announced its earnings results on Thursday, July 27th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.02. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $1.17 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year.
A number of analysts have weighed in on the company. B. Riley restated a “buy” rating and issued a $70.00 price target on shares of Brunswick Corporation in a research note on Wednesday, August 2nd. Aegis reiterated a “buy” rating and set a $73.00 target price on shares of Brunswick Corporation in a research report on Thursday, August 17th. ValuEngine cut Brunswick Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 target price on shares of Brunswick Corporation in a research report on Wednesday, July 12th. Finally, Northcoast Research cut Brunswick Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.54.
Shares of Brunswick Corporation (NYSE BC) traded down 0.24% on Friday, reaching $57.35. The company had a trading volume of 187,885 shares. The company has a 50 day moving average of $53.74 and a 200-day moving average of $57.45. The company has a market capitalization of $5.09 billion, a P/E ratio of 18.19 and a beta of 1.85. Brunswick Corporation has a 52 week low of $42.02 and a 52 week high of $63.82.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 22nd were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, August 18th. Brunswick Corporation’s dividend payout ratio is currently 20.95%.
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In related news, Chairman Mark D. Schwabero sold 2,738 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $63.72, for a total transaction of $174,465.36. Following the transaction, the chairman now owns 219,783 shares of the company’s stock, valued at $14,004,572.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BC. Advisors Asset Management Inc. purchased a new stake in Brunswick Corporation in the 2nd quarter valued at approximately $134,000. Bronfman E.L. Rothschild L.P. boosted its holdings in Brunswick Corporation by 149.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,550 shares of the company’s stock valued at $160,000 after purchasing an additional 1,529 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Brunswick Corporation by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,217 shares of the company’s stock valued at $202,000 after purchasing an additional 280 shares in the last quarter. Advisor Group Inc. boosted its holdings in Brunswick Corporation by 2.7% in the 2nd quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock valued at $202,000 after purchasing an additional 87 shares in the last quarter. Finally, Pitcairn Co. purchased a new stake in Brunswick Corporation in the 2nd quarter valued at approximately $213,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.
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.
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