Brunswick Co. Announces Quarterly Dividend of $0.42 (NYSE:BC)

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.42 per share on Friday, June 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, May 10th.

Brunswick has increased its dividend payment by an average of 17.4% per year over the last three years and has increased its dividend annually for the last 11 consecutive years.

Brunswick Trading Up 1.0 %

Shares of BC stock traded up $0.82 on Thursday, reaching $81.15. 503,806 shares of the company’s stock were exchanged, compared to its average volume of 741,899. The company’s fifty day simple moving average is $88.66 and its 200 day simple moving average is $85.00. The stock has a market capitalization of $5.58 billion, a PE ratio of 14.93 and a beta of 1.60. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68.

Brunswick (NYSE:BC) last released 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). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. Brunswick’s quarterly revenue was down 21.7% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. As a group, analysts forecast that Brunswick will post 7.39 EPS for the current year.

Wall Street Analyst Weigh In

BC has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Raymond James cut Brunswick from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. B. Riley raised Brunswick from a “neutral” rating to a “buy” rating and raised their price objective for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Roth Mkm reiterated a “buy” rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday, April 25th. Finally, Truist Financial lowered their price target on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.83.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the business’s 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 completion of the transaction, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction dated 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 owns 35,176 shares in the company, valued at $2,973,427.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the sale, the chief executive officer now owns 272,626 shares in the company, valued at $23,748,450.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,053 shares of company stock worth $4,602,880. Insiders own 0.81% of the company’s stock.

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.