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 earnings per share guidance of 7.000-8.000 for the period, compared to the consensus earnings per share 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 Up 1.4 %

BC traded up $1.08 on Friday, reaching $81.08. The company’s stock had a trading volume of 682,420 shares, compared to its average volume of 752,359. The business’s 50 day moving average is $89.13 and its 200 day moving average is $84.77. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 15.07 and a beta of 1.56. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.59.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company earned $2.57 EPS. The company’s quarterly revenue was down 21.7% compared to the same quarter last year. As a group, 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 given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s dividend payout ratio is presently 31.23%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BC. BNP Paribas reiterated a neutral rating and set a $82.00 price target (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Morgan Stanley dropped their price target on Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a research report on Friday. DA Davidson reiterated a neutral rating and set a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. Stifel Nicolaus increased their price objective on Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Finally, Roth Mkm reissued a buy rating and issued a $94.00 price objective on shares of Brunswick in a report on Thursday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $92.83.

Insider Buying and Selling at Brunswick

In other news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the sale, the vice president now directly owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly 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 SEC, which is accessible through this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,696 shares of company stock valued at $4,574,199. 0.81% of the stock is owned by corporate insiders.

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.