Brunswick (NYSE:BC) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Brunswick Corporation (NYSE:BC) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $77.06 and traded as low as $76.25. Brunswick shares last traded at $76.4330, with a volume of 425,516 shares trading hands.

Analyst Upgrades and Downgrades

BC has been the subject of a number of research reports. Truist Financial cut their target price on shares of Brunswick from $94.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Robert W. Baird set a $92.00 price target on shares of Brunswick in a research note on Friday, July 31st. Morgan Stanley set a $74.00 price target on shares of Brunswick in a report on Monday, October 26th. DA Davidson restated a “neutral” rating and set a $76.00 price objective on shares of Brunswick in a research report on Monday, August 17th. Finally, BNP Paribas Exane started coverage on Brunswick in a report on Friday, October 30th. They set a “hold” rating and a $79.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

Brunswick Trading Down 2.5%

The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 1.51. The business has a fifty day simple moving average of $69.04 and a 200 day simple moving average of $77.06. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 23.66 and a beta of 1.40.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.23. Brunswick had a return on equity of 17.51% and a net margin of 3.69%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business earned $0.97 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Brunswick Corporation will post 4.66 EPS for the current year.

Brunswick Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 24th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, November 24th. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. Brunswick’s dividend payout ratio is 54.49%.

Insider Activity at Brunswick

In related news, CEO David Foulkes sold 48,134 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $78.98, for a total transaction of $3,801,623.32. Following the transaction, the chief executive officer directly owned 221,047 shares of the company’s stock, valued at approximately $17,458,292.06. This trade represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.99% of the company’s stock.

Institutional Trading of Brunswick

A number of institutional investors have recently bought and sold shares of BC. Benjamin Edwards Inc. boosted its holdings in Brunswick by 15.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 7,786 shares of the company’s stock valued at $500,000 after purchasing an additional 1,063 shares during the period. Private Wealth Asset Management LLC bought a new position in shares of Brunswick during the third quarter worth approximately $212,000. Ieq Capital LLC increased its holdings in shares of Brunswick by 141.0% during the third quarter. Ieq Capital LLC now owns 75,646 shares of the company’s stock worth $4,860,000 after purchasing an additional 44,259 shares during the period. Focus Advisor Solutions LLC increased its holdings in shares of Brunswick by 314.2% during the third quarter. Focus Advisor Solutions LLC now owns 14,186 shares of the company’s stock worth $911,000 after purchasing an additional 10,761 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Brunswick in the third quarter valued at approximately $1,143,000. Institutional investors own 99.34% of the company’s stock.

About Brunswick

Brunswick Corporation is a marine recreation company that designs, manufactures and markets boats, marine engines and propulsion systems, and related parts and accessories. Its products serve recreational boaters and other customers in the marine industry. The company’s brands include Mercury Marine, which makes outboard engines and other propulsion products, and boat brands such as Sea Ray, Boston Whaler, Bayliner and Lund. Brunswick also supplies marine electronics and equipment, including products under the Simrad, Lowrance and B&G brands.