B. Riley Cuts Brunswick (NYSE:BC) Price Target to $97.00

Brunswick (NYSE:BC) had its price target trimmed by B. Riley from $108.00 to $97.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock. B. Riley also issued estimates for Brunswick’s Q3 2024 earnings at $2.22 EPS, Q4 2024 earnings at $1.99 EPS, FY2024 earnings at $7.44 EPS, Q1 2025 earnings at $1.91 EPS, Q2 2025 earnings at $2.21 EPS, Q3 2025 earnings at $2.54 EPS, Q4 2025 earnings at $2.21 EPS and FY2025 earnings at $8.86 EPS.

A number of other research firms have also recently weighed in on BC. Truist Financial dropped their price target on Brunswick from $95.00 to $90.00 and set a buy rating on the stock in a research note on Monday, July 8th. Morgan Stanley dropped their price target on Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a research note on Friday, April 26th. DA Davidson restated a neutral rating and issued a $77.00 price target on shares of Brunswick in a research note on Friday, March 15th. Benchmark initiated coverage on Brunswick in a research note on Wednesday, May 22nd. They issued a buy rating and a $100.00 price target on the stock. Finally, BNP Paribas restated a neutral rating and issued a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brunswick currently has an average rating of Moderate Buy and a consensus price target of $90.31.

Brunswick Trading Up 1.7 %

Shares of Brunswick stock opened at $77.35 on Wednesday. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The stock has a market cap of $5.23 billion, a P/E ratio of 14.38 and a beta of 1.52. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average is $76.87 and its 200-day moving average is $84.21.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned $2.57 EPS. The company’s revenue for the quarter was down 21.7% on a year-over-year basis. Equities research analysts predict that Brunswick will post 7.26 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, May 13th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Friday, May 10th. Brunswick’s dividend payout ratio (DPR) is currently 31.23%.

Insider Transactions at Brunswick

In other news, VP Brenna Preisser sold 1,225 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the sale, the vice president now directly owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Nancy E. Cooper sold 357 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the sale, the director now directly owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the completion of the sale, the vice president now directly owns 58,076 shares in the company, valued at $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Institutional Trading of Brunswick

Several large investors have recently bought and sold shares of the business. Raymond James Trust N.A. boosted its stake in shares of Brunswick by 4.4% during the fourth quarter. Raymond James Trust N.A. now owns 2,863 shares of the company’s stock valued at $277,000 after purchasing an additional 120 shares in the last quarter. Inspire Advisors LLC boosted its stake in shares of Brunswick by 7.9% during the first quarter. Inspire Advisors LLC now owns 2,268 shares of the company’s stock valued at $219,000 after purchasing an additional 166 shares in the last quarter. Cubic Asset Management LLC boosted its stake in shares of Brunswick by 4.4% during the fourth quarter. Cubic Asset Management LLC now owns 4,185 shares of the company’s stock valued at $405,000 after purchasing an additional 175 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Brunswick by 7.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,905 shares of the company’s stock valued at $280,000 after purchasing an additional 197 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Brunswick by 0.6% during the first quarter. Comerica Bank now owns 35,548 shares of the company’s stock valued at $3,431,000 after purchasing an additional 205 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

About Brunswick

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.