Brunswick Co. (NYSE:BC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Brunswick Co. (NYSE:BC) has been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $88.21.

A number of research firms recently issued reports on BC. B. Riley dropped their price target on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Robert W. Baird lowered their target price on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 price target (down previously from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Morgan Stanley dropped their price objective on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Benchmark reiterated a “buy” rating and set a $100.00 target price on shares of Brunswick in a research note on Friday, July 26th.

Insiders Place Their Bets

In related news, 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 owns 58,076 shares in the company, valued at $4,767,458.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brunswick

Hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. grew its holdings in Brunswick by 4.4% in 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 during the last quarter. Inspire Advisors LLC grew its stake in Brunswick by 7.9% in the 1st quarter. Inspire Advisors LLC now owns 2,268 shares of the company’s stock valued at $219,000 after acquiring an additional 166 shares during the last quarter. Cubic Asset Management LLC increased its holdings in Brunswick by 4.4% during the 4th quarter. Cubic Asset Management LLC now owns 4,185 shares of the company’s stock valued at $405,000 after acquiring an additional 175 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Brunswick by 7.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,905 shares of the company’s stock worth $280,000 after acquiring an additional 197 shares during the last quarter. Finally, Comerica Bank raised its position in Brunswick by 0.6% during the first quarter. Comerica Bank now owns 35,548 shares of the company’s stock worth $3,431,000 after acquiring an additional 205 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Up 1.6 %

Shares of NYSE:BC opened at $83.01 on Wednesday. The firm has a 50 day simple moving average of $76.15 and a 200-day simple moving average of $82.97. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $5.61 billion, a PE ratio of 15.43 and a beta of 1.52.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. Brunswick’s revenue was down 15.2% on a year-over-year basis. During the same period last year, the firm earned $2.35 earnings per share. On average, equities analysts predict that Brunswick will post 6.13 EPS for the current fiscal year.

Brunswick Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

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.