Brunswick Co. Expected to Post Q2 2024 Earnings of $1.85 Per Share (NYSE:BC)

Brunswick Co. (NYSE:BC) – Equities research analysts at Roth Capital lowered their Q2 2024 earnings estimates for shares of Brunswick in a report issued on Friday, April 26th. Roth Capital analyst S. Stember now anticipates that the company will earn $1.85 per share for the quarter, down from their previous estimate of $1.91. The consensus estimate for Brunswick’s current full-year earnings is $7.43 per share. Roth Capital also issued estimates for Brunswick’s FY2024 earnings at $7.20 EPS, Q1 2025 earnings at $1.62 EPS and FY2025 earnings at $8.89 EPS.

Several other research firms have also recently weighed in on BC. Stifel Nicolaus raised their target price on shares of Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Truist Financial reduced their target price on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. BNP Paribas reiterated a “neutral” rating and issued a $82.00 target price (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Raymond James cut Brunswick from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Finally, Morgan Stanley decreased their price objective on Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Brunswick currently has an average rating of “Moderate Buy” and a consensus target price of $92.83.

Brunswick Trading Up 1.4 %

Shares of BC opened at $81.08 on Monday. The firm has a market cap of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.59. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The company has a 50 day simple moving average of $89.02 and a two-hundred day simple moving average of $84.93.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The business’s revenue was down 21.7% on a year-over-year basis. During the same period last year, the company earned $2.57 EPS.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. Brunswick’s dividend payout ratio (DPR) is currently 31.23%.

Insiders Place Their Bets

In related news, VP Christopher F. Dekker sold 6,234 shares of Brunswick stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the transaction, the vice president now directly owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the sale, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Ryan M. Gwillim sold 9,036 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.10, for a total value of $787,035.60. Following the sale, the chief financial officer now directly owns 28,966 shares of the company’s stock, valued at $2,522,938.60. The disclosure for this sale can be found here. Insiders sold 52,696 shares of company stock valued at $4,574,199 over the last three months. 0.81% of the stock is owned by company insiders.

Institutional Trading of Brunswick

A number of large investors have recently made changes to their positions in BC. Prestige Wealth Management Group LLC lifted its holdings in Brunswick by 2,478.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 1,057 shares of the company’s stock valued at $102,000 after buying an additional 1,016 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Brunswick by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the company’s stock worth $1,911,000 after acquiring an additional 500 shares during the period. Valley National Advisers Inc. increased its position in shares of Brunswick by 47.0% during the first quarter. Valley National Advisers Inc. now owns 1,120 shares of the company’s stock worth $108,000 after acquiring an additional 358 shares during the period. State of Michigan Retirement System raised its stake in shares of Brunswick by 2.4% during the first quarter. State of Michigan Retirement System now owns 16,870 shares of the company’s stock valued at $1,628,000 after acquiring an additional 400 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Brunswick by 43,700.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after purchasing an additional 437 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.