JPMorgan Chase & Co. Cuts Brunswick (NYSE:BC) Price Target to $75.00

Brunswick (NYSE:BC) had its target price cut by JPMorgan Chase & Co. from $78.00 to $75.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently issued reports on BC. BNP Paribas reissued a neutral rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Citigroup reduced their price objective on Brunswick from $100.00 to $88.00 and set a buy rating for the company in a research note on Monday, July 8th. Stifel Nicolaus lowered their target price on Brunswick from $97.00 to $95.00 and set a buy rating on the stock in a research note on Friday, July 12th. Truist Financial cut their price target on Brunswick from $95.00 to $90.00 and set a buy rating for the company in a research note on Monday, July 8th. Finally, Roth Mkm reiterated a buy rating and issued a $94.00 price objective on shares of Brunswick in a research report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brunswick has an average rating of Moderate Buy and an average price target of $88.57.

Brunswick Stock Up 1.2 %

BC opened at $79.98 on Wednesday. The stock has a market capitalization of $5.40 billion, a P/E ratio of 14.87 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. Brunswick has a one year low of $66.47 and a one year high of $99.68. The business’s 50-day simple moving average is $76.11 and its 200-day simple moving average is $83.08.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the firm earned $2.35 EPS. Analysts anticipate that Brunswick will post 5.25 EPS for the current year.

Brunswick Announces Dividend

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

Insider Buying and Selling

In related news, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the sale, the vice president now 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 accessible through this hyperlink. In other Brunswick news, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the sale, the vice president now directly owns 58,076 shares in the company, valued at $4,767,458.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nancy E. Cooper sold 357 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of the transaction, the director now 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.

Institutional Trading of Brunswick

Several institutional investors and hedge funds have recently modified their holdings of the business. Inspire Advisors LLC boosted its stake in shares of Brunswick by 7.9% during the first quarter. Inspire Advisors LLC now owns 2,268 shares of the company’s stock valued at $219,000 after acquiring an additional 166 shares during the last quarter. Cubic Asset Management LLC lifted its holdings in Brunswick by 4.4% in the 4th quarter. Cubic Asset Management LLC now owns 4,185 shares of the company’s stock valued at $405,000 after purchasing an additional 175 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Brunswick by 7.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,905 shares of the company’s stock worth $280,000 after purchasing an additional 197 shares during the last quarter. Comerica Bank grew its holdings in shares of Brunswick by 0.6% during the first quarter. Comerica Bank now owns 35,548 shares of the company’s stock worth $3,431,000 after buying an additional 205 shares in the last quarter. Finally, Rise Advisors LLC raised its position in shares of Brunswick by 249.5% in the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.