Brunswick (NYSE:BC) Issues Quarterly Earnings Results

Brunswick (NYSE:BC) announced its quarterly earnings data on Thursday. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01), Briefing.com reports. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The business’s revenue was down 21.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 EPS.

Brunswick Trading Up 1.6 %

Shares of BC traded up $1.32 during mid-day trading on Friday, reaching $81.32. The company’s stock had a trading volume of 227,197 shares, compared to its average volume of 748,805. The stock has a market cap of $5.59 billion, a PE ratio of 13.70 and a beta of 1.56. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68. The company’s fifty day moving average price is $89.29 and its two-hundred day moving average price is $84.80.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, February 23rd. This is a boost from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s payout ratio is currently 28.24%.

Insider Transactions at Brunswick

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

Analysts Set New Price Targets

BC has been the topic of several research reports. Stifel Nicolaus lifted their price objective on shares of Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Truist Financial reduced their target price on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. B. Riley upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $108.00 in a research note on Tuesday, February 20th. Raymond James downgraded shares of Brunswick from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Finally, BNP Paribas reiterated a “neutral” rating and issued a $82.00 target price (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.08.

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.