Brunswick (NYSE:BC) Releases FY24 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.00-$5.50 for the period, compared to the consensus estimate of $7.01. The company issued revenue guidance of $5.2-$5.4 billion, compared to the consensus revenue estimate of $5.90 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.

Brunswick Stock Performance

Shares of NYSE BC traded up $0.98 during midday trading on Friday, hitting $80.00. 1,573,593 shares of the stock traded hands, compared to its average volume of 769,421. The firm has a 50-day moving average of $76.14 and a two-hundred day moving average of $83.20. The firm has a market capitalization of $5.41 billion, a P/E ratio of 14.77 and a beta of 1.52. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68. Brunswick has a one year low of $66.47 and a one year high of $99.68.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. Brunswick’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.35 earnings per share. On average, equities analysts forecast that Brunswick will post 7.15 EPS for the current fiscal year.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. Brunswick’s payout ratio is 31.23%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Benchmark restated a buy rating and issued a $100.00 price objective on shares of Brunswick in a research note on Friday. BNP Paribas restated a neutral rating and issued a $82.00 price objective (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Roth Mkm restated a buy rating and issued a $94.00 price objective on shares of Brunswick in a research note on Thursday. Robert W. Baird reduced their price objective on Brunswick from $95.00 to $93.00 and set an outperform rating for the company in a research note on Friday. Finally, Stifel Nicolaus reduced their price objective on Brunswick from $97.00 to $95.00 and set a buy rating for the company in a research note on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brunswick presently has an average rating of Moderate Buy and an average price target of $88.57.

Insiders Place Their Bets

In other news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the completion of the transaction, the vice president now owns 58,076 shares in the company, valued at $4,767,458.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the completion of the transaction, the vice president now owns 58,076 shares in the company, valued at $4,767,458.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nancy E. Cooper sold 357 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the transaction, the director now owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The disclosure for this sale can be found here. 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.