Brunswick (NYSE:BC) Issues Q2 Earnings Guidance

Brunswick (NYSE:BC) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $1.85-$2.05 for the period, compared to the consensus EPS estimate of $2.03. The company issued revenue guidance of $1.50-$1.60 billion, compared to the consensus revenue estimate of $1.60 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BC. Raymond James cut shares of Brunswick from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Truist Financial decreased 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. Morgan Stanley cut their price target on Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a report on Friday. Roth Mkm reaffirmed a buy rating and set a $94.00 price target on shares of Brunswick in a report on Thursday. Finally, Stifel Nicolaus raised their price target on Brunswick from $88.00 to $97.00 and gave the company a buy rating in a report on Wednesday, January 17th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $92.83.

Brunswick Price Performance

Brunswick stock traded up $1.05 during midday trading on Friday, reaching $81.05. The company’s stock had a trading volume of 682,385 shares, compared to its average volume of 754,562. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $89.13 and a 200-day moving average price of $84.77. The stock has a market cap of $5.58 billion, a PE ratio of 13.62 and a beta of 1.56.

Brunswick (NYSE:BC) last released its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The business’s revenue was down 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 EPS. On average, sell-side analysts predict that Brunswick will post 7.5 EPS for the current year.

Brunswick Increases Dividend

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

Insider Buying and Selling

In related news, VP Christopher F. Dekker sold 6,234 shares of Brunswick stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the transaction, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the business’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 value of $3,048,850.00. Following the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the transaction, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock valued at $4,574,199 over the last ninety days. 0.81% of the stock is owned by company insiders.

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.