Brunswick (NYSE:BC) Updates Q2 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.85-$2.05 for the period, compared to the consensus EPS estimate of $2.03. The company issued revenue guidance of $1.50-$1.60 billion, compared to the consensus revenue estimate of $1.60 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Brunswick Stock Performance

BC stock opened at $86.12 on Thursday. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 14.47 and a beta of 1.56. The firm has a 50-day simple moving average of $89.30 and a two-hundred day simple moving average of $84.79. Brunswick has a one year low of $66.47 and a one year high of $99.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.59 and a current ratio of 1.43.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.21). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The business’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.99 earnings per share. On average, equities analysts forecast that Brunswick will post 7.5 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were given a dividend of $0.42 per share. The ex-dividend date was Friday, February 23rd. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 1.95%. Brunswick’s dividend payout ratio (DPR) is currently 28.24%.

Analysts Set New Price Targets

BC has been the subject of a number of recent research reports. DA Davidson reissued a neutral rating and set a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. Truist Financial dropped their price target on shares of Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a research note on Friday, February 2nd. Raymond James cut shares of Brunswick from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Roth Mkm lifted their price target on shares of Brunswick from $85.00 to $94.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, BNP Paribas reissued a neutral rating and issued a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Brunswick has an average rating of Moderate Buy and an average target price of $92.08.

Insiders Place Their Bets

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of Brunswick stock in a transaction on Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the sale, the vice president now owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP John G. Buelow sold 2,426 shares of Brunswick stock in a transaction on Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the transaction, the executive vice president now owns 14,199 shares in the company, valued at approximately $1,237,016.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the sale, the vice president now owns 35,176 shares in the company, valued at $2,973,427.28. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock valued at $4,574,199 in the last 90 days. 0.81% of the stock is owned by 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.