Brunswick (NYSE:BC) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Brunswick (NYSE:BC) announced its quarterly earnings data on Thursday. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10), RTT News reports. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a return on equity of 25.37% and a net margin of 6.24%. Brunswick’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.35 EPS.

Brunswick Price Performance

Shares of NYSE BC traded up $6.07 on Thursday, hitting $79.58. The company’s stock had a trading volume of 1,705,505 shares, compared to its average volume of 756,474. The stock has a 50 day moving average of $76.18 and a 200-day moving average of $83.23. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 14.70 and a beta of 1.52. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68.

Brunswick Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, August 21st. Brunswick’s dividend payout ratio is presently 31.23%.

Insider Activity at Brunswick

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

Analysts Set New Price Targets

Several analysts have commented on BC shares. Morgan Stanley cut their target price 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. B. Riley decreased their target price on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Citigroup reduced their price objective on shares of Brunswick from $100.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. dropped their target price on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Benchmark initiated coverage on Brunswick in a report on Wednesday, May 22nd. They set a “buy” rating and a $100.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

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.