Zacks Investment Research upgraded shares of Brunswick Corporation (NYSE:BC) from a sell rating to a hold rating in a report published on Friday morning.
According to Zacks, “Brunswick Corporation is a manufacturer and marketer of leading consumer brands in four segments: Marine Engines, Boats, Fitness and Bowling & Billiards. The company also owns and operates: Brunswick bowling centers across the United States and internationally; Land ‘N’ Sea, a distributor of marine parts and accessories; and Omni Fitness, a chain of specialty fitness equipment retail stores. “
A number of other brokerages also recently issued reports on BC. Aegis reiterated a buy rating and issued a $73.00 price target on shares of Brunswick Corporation in a report on Thursday, August 17th. B. Riley reiterated a buy rating and issued a $70.00 price target on shares of Brunswick Corporation in a report on Wednesday, August 2nd. ValuEngine downgraded shares of Brunswick Corporation from a buy rating to a hold rating in a report on Wednesday, September 20th. BidaskClub downgraded shares of Brunswick Corporation from a strong-buy rating to a buy rating in a report on Monday, July 24th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $56.00 price target on shares of Brunswick Corporation in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $62.50.
Brunswick Corporation (NYSE:BC) opened at $48.84 on Friday. The firm has a market cap of $4,280.14, a price-to-earnings ratio of 12.95, a PEG ratio of 0.78 and a beta of 1.87. Brunswick Corporation has a one year low of $46.74 and a one year high of $63.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.81.
Brunswick Corporation (NYSE:BC) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.09). The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Brunswick Corporation had a return on equity of 22.71% and a net margin of 5.93%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. equities research analysts forecast that Brunswick Corporation will post 3.86 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 21st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.56%. This is a boost from Brunswick Corporation’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, November 20th. Brunswick Corporation’s payout ratio is 21.29%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its position in shares of Brunswick Corporation by 1.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 808,710 shares of the company’s stock worth $45,263,000 after purchasing an additional 14,141 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Brunswick Corporation in the 3rd quarter worth approximately $875,000. Convergence Investment Partners LLC lifted its position in shares of Brunswick Corporation by 16.8% in the 3rd quarter. Convergence Investment Partners LLC now owns 24,152 shares of the company’s stock worth $1,352,000 after purchasing an additional 3,472 shares during the period. Stifel Financial Corp raised its stake in shares of Brunswick Corporation by 133.7% during the 3rd quarter. Stifel Financial Corp now owns 58,588 shares of the company’s stock worth $3,277,000 after acquiring an additional 33,521 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Brunswick Corporation by 8.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 901,104 shares of the company’s stock worth $50,433,000 after acquiring an additional 66,840 shares in the last quarter. 88.93% of the stock is owned by hedge funds and other institutional investors.
Brunswick Corporation Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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