DA Davidson Weighs in on Brunswick Co.’s Q2 2024 Earnings (NYSE:BC)

Brunswick Co. (NYSE:BC) – Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Brunswick in a report released on Friday, April 26th. DA Davidson analyst B. Rolle anticipates that the company will post earnings per share of $1.85 for the quarter. DA Davidson currently has a “Neutral” rating and a $77.00 target price on the stock. The consensus estimate for Brunswick’s current full-year earnings is $7.43 per share. DA Davidson also issued estimates for Brunswick’s FY2025 earnings at $8.00 EPS.

A number of other research analysts have also recently issued reports on the company. Truist Financial decreased their target price on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Raymond James cut Brunswick from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. B. Riley upgraded Brunswick from a “neutral” rating to a “buy” rating and lifted their target price for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Stifel Nicolaus lifted their target price on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, BNP Paribas restated a “neutral” rating and set a $82.00 price target (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.83.

Brunswick Stock Performance

Brunswick stock opened at $80.66 on Monday. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The business’s 50-day moving average price is $88.94 and its two-hundred day moving average price is $84.99. The stock has a market cap of $5.55 billion, a PE ratio of 14.99 and a beta of 1.56.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same period last year, the firm earned $2.57 EPS.

Institutional Investors Weigh In On Brunswick

Several institutional investors have recently bought and sold shares of the stock. FMR LLC grew its stake in Brunswick by 140.4% in the 3rd quarter. FMR LLC now owns 3,435,357 shares of the company’s stock valued at $271,393,000 after purchasing an additional 2,006,578 shares during the period. Norges Bank bought a new position in Brunswick in the 4th quarter valued at $65,105,000. Victory Capital Management Inc. grew its stake in shares of Brunswick by 127.6% during the 3rd quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock worth $68,432,000 after acquiring an additional 485,588 shares during the period. Jennison Associates LLC grew its stake in shares of Brunswick by 71.0% during the 4th quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock worth $78,019,000 after acquiring an additional 334,851 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Brunswick by 110.2% during the 3rd quarter. Invesco Ltd. now owns 357,833 shares of the company’s stock worth $28,269,000 after acquiring an additional 187,572 shares during the period. Institutional investors own 99.34% of the company’s stock.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the transaction, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP John G. Buelow sold 2,426 shares of the company’s stock in a transaction that occurred 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 directly owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the transaction, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,696 shares of company stock valued at $4,574,199. 0.81% of the stock is currently owned by company insiders.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.42 dividend. The ex-dividend date was Friday, February 23rd. This is a boost from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.08%. Brunswick’s dividend payout ratio is presently 31.23%.

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.