Brunswick Corporation (BC) Downgraded to Hold at Forward View
Brunswick Corporation (NYSE:BC) was downgraded by stock analysts at Forward View from a “buy” rating to a “hold” rating in a research note issued on Monday. Forward View also issued estimates for Brunswick Corporation’s Q4 2017 earnings at $0.81 EPS, Q2 2018 earnings at $1.50 EPS and FY2018 earnings at $4.36 EPS.
A number of other equities analysts also recently commented on the company. Aegis restated a “buy” rating and issued a $73.00 target price on shares of Brunswick Corporation in a research note on Thursday, August 17th. BidaskClub upgraded Brunswick Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. ValuEngine downgraded Brunswick Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Northcoast Research downgraded 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. Finally, BMO Capital Markets decreased their target price on Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $64.00.
Shares of Brunswick Corporation (NYSE:BC) opened at 50.14 on Monday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 15.91 and a beta of 1.85. Brunswick Corporation has a 1-year low of $42.02 and a 1-year high of $63.82. The firm’s 50-day moving average price is $55.65 and its 200 day moving average price is $57.06.
Brunswick Corporation (NYSE:BC) last issued 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). Brunswick Corporation had a net margin of 5.93% and a return on equity of 22.71%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Analysts expect that Brunswick Corporation will post $3.88 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in BC. OppenheimerFunds Inc. raised its holdings in Brunswick Corporation by 10.4% during the first quarter. OppenheimerFunds Inc. now owns 18,364 shares of the company’s stock worth $1,124,000 after purchasing an additional 1,729 shares in the last quarter. Wellington Management Group LLP acquired a new position in Brunswick Corporation in the first quarter worth approximately $1,217,000. Teachers Advisors LLC grew its position in Brunswick Corporation by 16.7% in the first quarter. Teachers Advisors LLC now owns 121,571 shares of the company’s stock worth $7,440,000 after buying an additional 17,392 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Brunswick Corporation by 9.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,383 shares of the company’s stock worth $453,000 after buying an additional 621 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Brunswick Corporation by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 812,942 shares of the company’s stock worth $49,751,000 after buying an additional 10,730 shares during the last quarter. 93.65% 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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