Brunswick (NYSE:BC) Issues FY 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.500-4.500 for the period, compared to the consensus EPS estimate of 5.230. The company issued revenue guidance of $5.1 billion-$5.2 billion, compared to the consensus revenue estimate of $5.3 billion. Brunswick also updated its FY24 guidance to ~$4.50 EPS.

Analyst Upgrades and Downgrades

BC has been the topic of a number of recent research reports. Citigroup upped their price target on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Northcoast Research raised Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Monday, July 29th. Truist Financial lowered their price objective on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. cut their target price on Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Benchmark restated a “buy” rating and set a $100.00 price target on shares of Brunswick in a report on Friday. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.23.

Brunswick Stock Up 1.0 %

NYSE BC traded up $0.80 during midday trading on Friday, hitting $80.76. 1,113,859 shares of the company traded hands, compared to its average volume of 718,351. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68. The company’s 50-day simple moving average is $80.28 and its 200-day simple moving average is $79.19. The company has a market cap of $5.46 billion, a PE ratio of 15.01 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 announced its quarterly earnings data on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.35 earnings per share. As a group, equities research analysts forecast that Brunswick will post 5.26 earnings per share for the current year.

Brunswick Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.08%. Brunswick’s dividend payout ratio is presently 31.23%.

Insider Transactions at Brunswick

In related news, Director Nancy E. Cooper sold 358 shares of Brunswick stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the transaction, the director now owns 23,877 shares in the company, valued at $1,942,155.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.