Brunswick (NYSE:BC) Updates Q3 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.15-$1.25 for the period, compared to the consensus earnings per share estimate of $2.17. The company issued revenue guidance of $1.2-$1.3 billion, compared to the consensus revenue estimate of $1.58 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.

Brunswick Price Performance

BC opened at $73.53 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68. The company has a 50 day moving average of $76.18 and a two-hundred day moving average of $83.23. The company has a market cap of $4.97 billion, a P/E ratio of 13.67 and a beta of 1.52.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. 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 earnings per share. On average, analysts expect that Brunswick will post 7.18 earnings per share for the current year.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be paid a $0.42 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.68 annualized dividend and a dividend yield of 2.28%. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Analyst Ratings Changes

Several research firms recently issued reports on BC. Benchmark began coverage on shares of Brunswick in a report on Wednesday, May 22nd. They issued a buy rating and a $100.00 price target on the stock. Roth Mkm reaffirmed a buy rating and issued a $94.00 price target on shares of Brunswick in a report on Thursday, April 25th. Morgan Stanley cut their price target on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a report on Friday, April 26th. Stifel Nicolaus dropped their target price on shares of Brunswick from $97.00 to $95.00 and set a buy rating on the stock in a report on Friday, July 12th. Finally, Truist Financial dropped their target price on shares of Brunswick from $95.00 to $90.00 and set a buy rating on the stock in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Brunswick currently has a consensus rating of Moderate Buy and a consensus price target of $90.00.

Insider Transactions at Brunswick

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

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.