Citigroup Issues Positive Forecast for Brunswick (NYSE:BC) Stock Price

Brunswick (NYSE:BC) had its price objective boosted by Citigroup from $61.00 to $68.00 in a report issued on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on BC. BMO Capital Markets reduced their price target on shares of Brunswick from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Baird R W downgraded Brunswick from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Truist Financial decreased their target price on Brunswick from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Robert W. Baird increased their price target on Brunswick from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, DA Davidson reiterated a “neutral” rating and issued a $43.00 price objective (down from $64.00) on shares of Brunswick in a research report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Brunswick Trading Up 1.0%

NYSE BC opened at $55.55 on Monday. The company has a current ratio of 1.57, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. Brunswick has a 12 month low of $41.00 and a 12 month high of $87.65. The company has a market capitalization of $3.65 billion, a PE ratio of 45.91 and a beta of 1.27. The stock has a 50-day simple moving average of $49.97 and a 200 day simple moving average of $58.79.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.31. Brunswick had a return on equity of 12.88% and a net margin of 1.62%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business posted $1.35 EPS. Brunswick’s revenue was down 10.5% on a year-over-year basis. Research analysts forecast that Brunswick will post 4.19 EPS for the current year.

Brunswick Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Monday, May 19th. Brunswick’s dividend payout ratio is presently 142.15%.

Insider Buying and Selling at Brunswick

In other news, VP Christopher F. Dekker sold 2,092 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total transaction of $122,319.24. Following the completion of the transaction, the vice president now directly owns 44,466 shares in the company, valued at $2,599,927.02. This represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

Hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC grew its stake in shares of Brunswick by 2.8% in the first quarter. Voya Investment Management LLC now owns 8,196 shares of the company’s stock valued at $441,000 after buying an additional 221 shares in the last quarter. Inspire Investing LLC grew its position in shares of Brunswick by 9.6% in the 1st quarter. Inspire Investing LLC now owns 7,460 shares of the company’s stock valued at $402,000 after acquiring an additional 655 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Brunswick by 477.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 727 shares of the company’s stock valued at $39,000 after acquiring an additional 601 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Brunswick during the 1st quarter worth about $496,000. Finally, SCS Capital Management LLC bought a new stake in shares of Brunswick in the 1st quarter valued at about $263,000. Institutional investors and hedge funds 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.