Brunswick (NYSE:BC) Releases Q2 2024 Earnings Guidance

Brunswick (NYSE:BC) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 2.040. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Analysts Set New Price Targets

Several research firms have recently issued reports on BC. BNP Paribas reissued a neutral rating and set a $82.00 target price (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Stifel Nicolaus increased their target price on Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, January 17th. B. Riley raised Brunswick from a neutral rating to a buy rating and increased their target price for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Truist Financial reduced their target price on Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a report on Friday, February 2nd. Finally, Roth Mkm reaffirmed a buy rating and issued a $94.00 price objective on shares of Brunswick in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $92.83.

Brunswick Price Performance

NYSE:BC traded up $1.08 during trading hours on Friday, hitting $81.08. The company’s stock had a trading volume of 682,420 shares, compared to its average volume of 752,359. The stock has a fifty day simple moving average of $89.02 and a 200-day simple moving average of $84.81. The company has a market capitalization of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.59. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $2.57 earnings per share. The business’s revenue for the quarter was down 21.7% compared to the same quarter last year. On average, analysts anticipate that Brunswick will post 7.43 EPS for the current fiscal year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Activity

In other news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the transaction, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the transaction, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction dated 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 owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,696 shares of company stock valued at $4,574,199. 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.