Brunswick (NYSE:BC) Releases FY24 Earnings Guidance

Brunswick (NYSE:BC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ~$4.50 for the period, compared to the consensus estimate of $5.23. The company issued revenue guidance of $5.1-5.2 billion, compared to the consensus revenue estimate of $5.30 billion. Brunswick also updated its FY 2024 guidance to 4.500-4.500 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BC. Truist Financial dropped their price target on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 target price (down from $115.00) on shares of Brunswick in a research note on Friday, July 26th. Robert W. Baird decreased their price target on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Benchmark reissued a “buy” rating and set a $100.00 price objective on shares of Brunswick in a report on Friday, July 26th. Finally, B. Riley reduced their target price on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.23.

Brunswick Trading Up 3.9 %

Shares of Brunswick stock traded up $2.97 on Thursday, reaching $79.99. The company had a trading volume of 1,080,802 shares, compared to its average volume of 716,431. The firm’s 50-day moving average price is $80.20 and its two-hundred day moving average price is $79.27. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 14.87 and a beta of 1.51. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm earned $2.35 EPS. The company’s revenue was down 15.2% on a year-over-year basis. As a group, research analysts predict that Brunswick will post 5.26 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.68 annualized dividend and a yield of 2.10%. Brunswick’s payout ratio is 31.23%.

Insider Buying and Selling

In related news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total transaction of $29,119.72. Following the completion of the sale, the director now directly owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is currently owned by corporate 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.