Brunswick (NYSE:BC) Updates FY 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 7.000-8.000 for the period, compared to the consensus EPS estimate of 7.420. The company issued revenue guidance of $6.0 billion-$6.2 billion, compared to the consensus revenue estimate of $6.0 billion. Brunswick also updated its FY24 guidance to $7.00-$8.00 EPS.

Brunswick Stock Performance

NYSE:BC traded down $5.85 during trading hours on Thursday, reaching $80.28. The stock had a trading volume of 484,338 shares, compared to its average volume of 737,999. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.59 and a current ratio of 1.43. The stock has a 50 day simple moving average of $89.30 and a 200 day simple moving average of $84.79. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The stock has a market cap of $5.52 billion, a P/E ratio of 13.42 and a beta of 1.56.

Brunswick (NYSE:BC) last released its earnings results on Thursday, February 1st. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the business earned $1.99 earnings per share. The business’s quarterly revenue was down 14.0% compared to the same quarter last year. On average, research analysts forecast that Brunswick will post 7.5 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.42 dividend. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Friday, February 23rd. Brunswick’s dividend payout ratio (DPR) is presently 28.24%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BC shares. Raymond James lowered Brunswick from an outperform rating to a market perform rating in a report on Thursday, January 4th. Stifel Nicolaus lifted their price objective on Brunswick from $88.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, January 17th. B. Riley raised Brunswick from a neutral rating to a buy rating and lifted their price objective for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. BNP Paribas restated a neutral rating and set a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Finally, DA Davidson restated a neutral rating and set a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $92.08.

Insider Buying and Selling at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the transaction, the chief executive officer now owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares in the company, valued at approximately $23,748,450.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John G. Buelow sold 2,426 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.12, for a total value of $211,353.12. Following the completion of the sale, the executive vice president now owns 14,199 shares in the company, valued at approximately $1,237,016.88. The disclosure for this sale can be found here. Insiders sold 52,696 shares of company stock valued at $4,574,199 in the last 90 days. Insiders own 0.81% of the company’s stock.

Brunswick Company Profile

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.