Brunswick (NYSE:BC) Receives “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of Brunswick (NYSE:BC) in a report released on Friday, Benzinga reports. Benchmark currently has a $100.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus lowered their price target on Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Monday, July 29th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $70.00 target price (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. B. Riley dropped their price target on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Truist Financial cut their price objective on Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.23.

Brunswick Stock Performance

NYSE:BC opened at $80.76 on Friday. The company has a market capitalization of $5.46 billion, a PE ratio of 15.01 and a beta of 1.51. Brunswick has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. The company has a 50 day simple moving average of $80.28 and a two-hundred day simple moving average of $79.19.

Brunswick (NYSE:BC) last issued its quarterly earnings results 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 return on equity of 23.46% and a net margin of 5.92%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the business posted $2.35 earnings per share. The business’s revenue was down 15.2% on a year-over-year basis. Research analysts anticipate that Brunswick will post 5.26 earnings per share for the current year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, November 20th. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Activity at Brunswick

In other Brunswick 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 transaction of $29,119.72. Following the completion of the transaction, the director now owns 23,877 shares of the company’s stock, valued at $1,942,155.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Brunswick by 2.3% in the first quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock valued at $701,331,000 after purchasing an additional 160,531 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Brunswick by 2.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,637,962 shares of the company’s stock worth $191,964,000 after buying an additional 58,583 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Brunswick by 88.0% during the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock valued at $176,903,000 after buying an additional 1,137,568 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Brunswick by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock worth $152,577,000 after acquiring an additional 144,416 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Brunswick by 4.1% in the second quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after acquiring an additional 57,605 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

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.