Brunswick Corporation (BC) Receives “Buy” Rating from SunTrust Banks, Inc.
Brunswick Corporation (NYSE:BC)‘s stock had its “buy” rating restated by SunTrust Banks, Inc. in a research note issued to investors on Friday. They presently have a $62.00 target price on the stock. SunTrust Banks, Inc.’s target price would indicate a potential upside of 24.00% from the stock’s previous close. SunTrust Banks also issued estimates for Brunswick Corporation’s FY2017 earnings at $3.85 EPS, Q1 2018 earnings at $0.83 EPS, Q2 2018 earnings at $1.48 EPS, Q3 2018 earnings at $1.12 EPS, Q4 2018 earnings at $0.92 EPS, FY2018 earnings at $4.34 EPS and FY2019 earnings at $4.94 EPS.
Several other research analysts have also issued reports on the company. Aegis reiterated a “buy” rating and issued a $73.00 price target on shares of Brunswick Corporation in a report on Thursday, August 17th. BidaskClub upgraded Brunswick Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. ValuEngine lowered Brunswick Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Forward View upgraded Brunswick Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Sunday, September 3rd. Finally, Northcoast Research lowered Brunswick Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $64.36.
Brunswick Corporation (NYSE BC) traded up 2.82% during trading on Friday, hitting $50.00. The stock had a trading volume of 3,235,649 shares. Brunswick Corporation has a one year low of $42.02 and a one year high of $63.82. The stock has a 50 day moving average of $55.71 and a 200 day moving average of $57.11. The firm has a market capitalization of $4.44 billion, a P/E ratio of 15.86 and a beta of 1.85.
Brunswick Corporation (NYSE:BC) last announced its earnings results on Thursday, October 26th. The company reported $0.91 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.09). Brunswick Corporation had a net margin of 5.93% and a return on equity of 22.71%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts expect that Brunswick Corporation will post $3.98 earnings per share for the current fiscal year.
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Several institutional investors have recently modified their holdings of BC. BlackRock Inc. raised its stake in shares of Brunswick Corporation by 8,617.9% in the first quarter. BlackRock Inc. now owns 7,488,087 shares of the company’s stock worth $458,271,000 after purchasing an additional 7,402,194 shares during the last quarter. AJO LP raised its stake in shares of Brunswick Corporation by 1,548.4% in the second quarter. AJO LP now owns 1,538,793 shares of the company’s stock worth $96,528,000 after purchasing an additional 1,445,444 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Brunswick Corporation in the second quarter worth approximately $42,936,000. Vanguard Group Inc. raised its stake in shares of Brunswick Corporation by 6.8% in the first quarter. Vanguard Group Inc. now owns 7,158,280 shares of the company’s stock worth $438,086,000 after purchasing an additional 457,104 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Brunswick Corporation by 3.8% in the second quarter. Boston Partners now owns 9,306,042 shares of the company’s stock worth $583,768,000 after purchasing an additional 338,212 shares during the last quarter. 93.82% of the stock is 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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