Brunswick (NYSE:BC) Updates FY 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 4.500-4.500 for the period, compared to the consensus earnings per share estimate of 5.230. The company issued revenue guidance of $5.1 billion-$5.2 billion, compared to the consensus revenue estimate of $5.3 billion.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BC shares. Roth Mkm restated a “buy” rating and set a $94.00 price objective on shares of Brunswick in a report on Thursday, July 25th. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Monday, July 29th. B. Riley dropped their target price on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Citigroup increased their price target on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Truist Financial cut their price objective on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.23.

Brunswick Trading Down 2.3 %

Shares of BC opened at $77.01 on Thursday. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The firm has a market capitalization of $5.20 billion, a P/E ratio of 14.31 and a beta of 1.51. The stock’s fifty day simple moving average is $80.14 and its 200 day simple moving average is $79.27.

Brunswick (NYSE:BC) last released 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 return on equity of 23.46% and a net margin of 5.92%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.35 EPS. On average, equities research analysts forecast that Brunswick will post 5.26 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.18%. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Activity

In other news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the sale, the director now directly owns 23,877 shares in the company, valued at approximately $1,942,155.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.