Brunswick (NYSE:BC) Updates Q3 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.15-$1.25 for the period, compared to the consensus EPS estimate of $2.17. The company issued revenue guidance of $1.2-$1.3 billion, compared to the consensus revenue estimate of $1.58 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.

Brunswick Stock Up 1.2 %

Brunswick stock traded up $0.98 during trading on Friday, reaching $80.00. The stock had a trading volume of 1,573,593 shares, compared to its average volume of 769,421. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68. The business has a 50 day moving average price of $76.14 and a 200 day moving average price of $83.20. 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 stock has a market cap of $5.41 billion, a PE ratio of 14.77 and a beta of 1.52.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the firm earned $2.35 EPS. The firm’s revenue was down 15.2% compared to the same quarter last year. On average, analysts predict that Brunswick will post 7.15 EPS for the current year.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. Brunswick’s dividend payout ratio is presently 31.23%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial cut their target price on shares of Brunswick from $95.00 to $90.00 and set a buy rating on the stock in a report on Monday, July 8th. BNP Paribas reaffirmed a neutral rating and issued a $82.00 target price (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Roth Mkm reaffirmed a buy rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday. Jefferies Financial Group reissued a hold rating and issued a $70.00 price objective (down from $115.00) on shares of Brunswick in a research note on Friday. Finally, B. Riley dropped their price objective on shares of Brunswick from $108.00 to $97.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $88.57.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Brenna Preisser sold 1,225 shares of the company’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 transaction, the vice president now directly owns 58,076 shares in the company, valued at approximately $4,767,458.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.09, for a total transaction of $100,560.25. Following the completion of the transaction, the vice president now owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the transaction, the director now directly owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The disclosure for this sale can be found here. 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.