Brunswick (NYSE:BC – Get Free Report) 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 – Get Free Report) 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
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.
View Our Latest Stock Report on Brunswick
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.
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