Brunswick (NYSE:BC) Issues FY24 Earnings Guidance

Brunswick (NYSE:BC) 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) 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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a yield of 2.13%. Brunswick’s payout ratio is currently 31.23%.

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.

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.