Brunswick (NYSE:BC) Releases Q2 Earnings Guidance

Brunswick (NYSE:BC) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $1.85-$2.05 for the period, compared to the consensus EPS estimate of $2.03. The company issued revenue guidance of $1.50-$1.60 billion, compared to the consensus revenue estimate of $1.60 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Brunswick Stock Up 1.3 %

Shares of NYSE BC traded up $1.05 during midday trading on Friday, reaching $81.05. The company’s stock had a trading volume of 682,385 shares, compared to its average volume of 754,562. Brunswick has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The stock has a 50 day simple moving average of $89.13 and a 200-day simple moving average of $84.77. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 13.62 and a beta of 1.56. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The business’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same period last year, the company posted $2.57 earnings per share. Equities research analysts predict that Brunswick will post 7.5 earnings per share for the current year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. This is a boost from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio (DPR) is presently 28.24%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial decreased their price objective 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. Morgan Stanley lowered their price target on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a report on Friday. DA Davidson restated a neutral rating and set a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. Roth Mkm reaffirmed a buy rating and issued a $94.00 target price on shares of Brunswick in a research report on Thursday. Finally, Raymond James cut Brunswick from an outperform rating to a market perform rating in a report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $92.83.

Insider Activity

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the sale, the chief executive officer now directly owns 272,626 shares in the company, valued at $23,748,450.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Ryan M. Gwillim sold 9,036 shares of Brunswick stock in a transaction on Friday, February 16th. The stock was sold at an average price of $87.10, for a total value of $787,035.60. Following the transaction, the chief financial officer now owns 28,966 shares in the company, valued at approximately $2,522,938.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David M. Foulkes sold 35,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total value of $3,048,850.00. Following the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The disclosure for this sale can be found here. In the last three months, insiders sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is currently owned by company 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.