Brokers Issue Forecasts for Brunswick Co.’s Q2 2024 Earnings (NYSE:BC)

Brunswick Co. (NYSE:BC) – Equities research analysts at Roth Capital reduced their Q2 2024 earnings per share estimates for Brunswick in a report issued on Friday, April 26th. Roth Capital analyst S. Stember now forecasts that the company will earn $1.85 per share for the quarter, down from their prior estimate of $1.91. The consensus estimate for Brunswick’s current full-year earnings is $7.43 per share. Roth Capital also issued estimates for Brunswick’s FY2024 earnings at $7.20 EPS, Q1 2025 earnings at $1.62 EPS and FY2025 earnings at $8.89 EPS.

Other equities research analysts also recently issued reports about the company. Morgan Stanley lowered their price target on Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. DA Davidson reaffirmed a “neutral” rating and issued a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. Stifel Nicolaus increased their target price on Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Truist Financial lowered their price objective on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Finally, B. Riley upgraded Brunswick from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. Five research 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 stock has an average rating of “Moderate Buy” and a consensus target price of $92.83.

Brunswick Stock Down 1.8 %

Shares of Brunswick stock opened at $80.66 on Monday. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The business has a 50-day moving average of $88.94 and a two-hundred day moving average of $84.99. The company has a market capitalization of $5.55 billion, a P/E ratio of 14.99 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 0.75.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.57 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Raymond James Trust N.A. raised its holdings in shares of Brunswick by 4.4% during the fourth quarter. Raymond James Trust N.A. now owns 2,863 shares of the company’s stock worth $277,000 after purchasing an additional 120 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in Brunswick by 4.3% in the third quarter. Verdence Capital Advisors LLC now owns 3,645 shares of the company’s stock valued at $288,000 after buying an additional 149 shares in the last quarter. Wrapmanager Inc. increased its holdings in Brunswick by 5.6% in the third quarter. Wrapmanager Inc. now owns 2,806 shares of the company’s stock valued at $222,000 after buying an additional 149 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Brunswick by 2.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,488 shares of the company’s stock valued at $434,000 after buying an additional 155 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Brunswick by 17.9% in the third quarter. Fifth Third Bancorp now owns 1,042 shares of the company’s stock valued at $82,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction 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. Insiders sold a total of 52,696 shares of company stock worth $4,574,199 over the last three months. Corporate insiders own 0.81% of the company’s stock.

Brunswick Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. Brunswick’s dividend payout ratio (DPR) is currently 31.23%.

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.