Brunswick (NYSE:BC) Rating Reiterated by Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of Brunswick (NYSE:BC) in a research note released on Friday morning, Benzinga reports. Jefferies Financial Group currently has a $70.00 target price on the stock, down from their prior target price of $115.00.

BC has been the subject of several other reports. Stifel Nicolaus cut their price objective on shares of Brunswick from $97.00 to $95.00 and set a buy rating for the company in a research report on Friday, July 12th. Citigroup dropped their price target on shares of Brunswick from $100.00 to $88.00 and set a buy rating for the company in a research report on Monday, July 8th. Roth Mkm reiterated a buy rating and set a $94.00 price target on shares of Brunswick in a research report on Thursday, July 25th. Benchmark began coverage on shares of Brunswick in a research report on Wednesday, May 22nd. They set a buy rating and a $100.00 price target for the company. Finally, Morgan Stanley dropped their price target on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $88.21.

Brunswick Stock Performance

NYSE:BC opened at $81.67 on Friday. The company’s 50-day moving average price is $76.11 and its 200-day moving average price is $83.00. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The company has a market cap of $5.52 billion, a P/E ratio of 15.18 and a beta of 1.52. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.35 earnings per share. On average, sell-side analysts forecast that Brunswick will post 6.13 earnings per share for the current fiscal 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 2.06%. Brunswick’s dividend payout ratio is presently 31.23%.

Insider Transactions at Brunswick

In other news, Director Nancy E. Cooper sold 357 shares of Brunswick 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 transaction, the director now directly owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Brenna Preisser sold 1,225 shares of Brunswick stock in a transaction on 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 of the company’s stock, valued at approximately $4,767,458.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the transaction, the director now directly owns 23,211 shares in the company, valued at $1,864,771.74. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

Several institutional investors have recently bought and sold shares of BC. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Brunswick by 3.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,631 shares of the company’s stock worth $1,065,000 after purchasing an additional 494 shares during the period. Skylands Capital LLC grew its stake in shares of Brunswick by 67.6% during the 2nd quarter. Skylands Capital LLC now owns 15,625 shares of the company’s stock worth $1,137,000 after purchasing an additional 6,300 shares during the period. Baillie Gifford & Co. grew its stake in shares of Brunswick by 88.0% during the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock worth $176,903,000 after purchasing an additional 1,137,568 shares during the period. Lecap Asset Management Ltd. acquired a new position in shares of Brunswick during the 2nd quarter worth $456,000. Finally, Fifth Third Bancorp grew its stake in shares of Brunswick by 47.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,511 shares of the company’s stock worth $110,000 after purchasing an additional 483 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

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.