Q3 2024 Earnings Forecast for Brunswick Co. Issued By B. Riley (NYSE:BC)

Brunswick Co. (NYSE:BC) – Investment analysts at B. Riley reduced their Q3 2024 EPS estimates for Brunswick in a research report issued to clients and investors on Thursday, April 25th. B. Riley analyst E. Wold now forecasts that the company will earn $2.47 per share for the quarter, down from their previous forecast of $2.52. B. Riley currently has a “Buy” rating and a $108.00 price objective on the stock. The consensus estimate for Brunswick’s current full-year earnings is $7.43 per share. B. Riley also issued estimates for Brunswick’s Q4 2024 earnings at $1.89 EPS, FY2024 earnings at $7.59 EPS, Q1 2025 earnings at $1.98 EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at $2.61 EPS, Q4 2025 earnings at $2.10 EPS and FY2025 earnings at $9.02 EPS.

Brunswick (NYSE:BC) last issued 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). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The business’s quarterly revenue was down 21.7% compared to the same quarter last year.

Several other analysts have also recently issued reports on BC. Raymond James cut shares of Brunswick from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. BNP Paribas restated a “neutral” rating and set a $82.00 price target (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Roth Mkm reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a research note on Thursday, April 25th. DA Davidson reissued a “neutral” rating and set a $77.00 target price on shares of Brunswick in a research report on Friday, March 15th. Finally, Truist Financial reduced their price target on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.83.

Brunswick Stock Down 1.8 %

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp increased its stake in Brunswick by 32.0% in the first quarter. Van ECK Associates Corp now owns 73,470 shares of the company’s stock valued at $7,091,000 after acquiring an additional 17,824 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Brunswick by 43,700.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock worth $42,000 after acquiring an additional 437 shares during the period. Prestige Wealth Management Group LLC raised its position in shares of Brunswick by 2,478.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 1,057 shares of the company’s stock valued at $102,000 after acquiring an additional 1,016 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Brunswick by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the company’s stock worth $1,911,000 after buying an additional 500 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in Brunswick by 47.0% during the 1st quarter. Valley National Advisers Inc. now owns 1,120 shares of the company’s stock worth $108,000 after acquiring an additional 358 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Insider Activity at Brunswick

In related news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Ryan M. Gwillim sold 9,036 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.10, for a total value of $787,035.60. Following the completion of the sale, the chief financial officer now owns 28,966 shares of the company’s stock, valued at approximately $2,522,938.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christopher F. Dekker sold 6,234 shares of Brunswick stock in a transaction that occurred 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 completion of the sale, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is owned by corporate insiders.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s payout ratio is currently 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.