SunTrust Banks Analysts Lower Earnings Estimates for Brunswick Corporation (BC)
Brunswick Corporation (NYSE:BC) – Equities researchers at SunTrust Banks cut their FY2017 EPS estimates for shares of Brunswick Corporation in a report released on Thursday. SunTrust Banks analyst M. Swartz now forecasts that the company will post earnings per share of $3.85 for the year, down from their previous estimate of $4.02. SunTrust Banks has a “Buy” rating and a $62.00 price target on the stock. SunTrust Banks also issued estimates for Brunswick Corporation’s 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 brokerages have also recently issued reports on BC. Jefferies Group LLC reissued a “hold” rating and issued a $56.00 price objective on shares of Brunswick Corporation in a research note on Friday, July 14th. Stifel Nicolaus increased their price objective on Brunswick Corporation from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. BMO Capital Markets reissued a “buy” rating and issued a $72.00 price objective on shares of Brunswick Corporation in a research note on Thursday, July 13th. BidaskClub raised Brunswick Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Finally, Northcoast Research cut Brunswick Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 10th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.36.
TRADEMARK VIOLATION NOTICE: This story was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/10/30/suntrust-banks-analysts-lower-earnings-estimates-for-brunswick-corporation-bc.html.
Brunswick Corporation (NYSE:BC) opened at 50.00 on Monday. The stock has a 50 day moving average price of $55.71 and a 200-day moving average price of $57.11. The stock has a market cap of $4.44 billion, a PE ratio of 15.86 and a beta of 1.85. Brunswick Corporation has a 1-year low of $42.02 and a 1-year high of $63.82.
Brunswick Corporation (NYSE:BC) last released its earnings results on Thursday, October 26th. The company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.09). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brunswick Corporation had a net margin of 5.93% and a return on equity of 22.71%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS.
A number of institutional investors have recently bought and sold shares of the business. Somerset Trust Co lifted its holdings in Brunswick Corporation by 0.4% during the second quarter. Somerset Trust Co now owns 9,309 shares of the company’s stock worth $584,000 after buying an additional 39 shares during the period. Aspen Investment Management Inc lifted its holdings in Brunswick Corporation by 0.9% during the second quarter. Aspen Investment Management Inc now owns 5,420 shares of the company’s stock worth $340,000 after buying an additional 50 shares during the period. Advisor Group Inc. lifted its holdings in shares of Brunswick Corporation by 2.7% during 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 during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Brunswick Corporation by 1.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,180 shares of the company’s stock valued at $450,000 after purchasing an additional 98 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Brunswick Corporation by 2.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,536 shares of the company’s stock valued at $285,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 93.65% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 21st will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, November 20th. This represents a $0.76 dividend on an annualized basis and a yield of 1.52%. This is a positive change from Brunswick Corporation’s previous quarterly dividend of $0.17. Brunswick Corporation’s dividend payout ratio is currently 21.29%.
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.
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.