Brunswick (NYSE:BC – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $5.00-$5.50 for the period, compared to the consensus EPS estimate of $7.01. The company issued revenue guidance of $5.2-$5.4 billion, compared to the consensus revenue estimate of $5.90 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.
Brunswick Stock Performance
BC stock traded up $5.51 on Thursday, hitting $79.02. The company’s stock had a trading volume of 2,713,967 shares, compared to its average volume of 763,758. The firm has a 50 day moving average of $76.14 and a two-hundred day moving average of $83.20. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 14.69 and a beta of 1.52. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16.
Brunswick (NYSE:BC – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company earned $2.35 EPS. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. Equities analysts predict that Brunswick will post 7.18 EPS for the current fiscal year.
Brunswick Dividend Announcement
Wall Street Analyst Weigh In
BC has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research report on Friday, April 26th. Benchmark initiated coverage on shares of Brunswick in a research report on Wednesday, May 22nd. They set a buy rating and a $100.00 price objective for the company. Citigroup cut their price objective on shares of Brunswick from $100.00 to $88.00 and set a buy rating for the company in a research report on Monday, July 8th. Truist Financial cut their price objective on shares of Brunswick from $95.00 to $90.00 and set a buy rating for the company in a research report on Monday, July 8th. Finally, BNP Paribas restated a neutral rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Brunswick presently has a consensus rating of Moderate Buy and an average target price of $90.00.
View Our Latest Analysis on Brunswick
Insider Activity at Brunswick
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 sale, the director now directly owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The sale was disclosed in a filing with the SEC, which is available 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 sale, the director now directly owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 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 owned by corporate insiders.
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.
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