Brunswick (NYSE:BC – Get Free Report) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $1.15-$1.25 for the period, compared to the consensus EPS estimate of $2.17. The company issued revenue guidance of $1.2-$1.3 billion, compared to the consensus revenue estimate of $1.58 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.
Brunswick Stock Up 1.2 %
BC traded up $0.96 on Friday, hitting $79.98. 1,573,593 shares of the company were exchanged, compared to its average volume of 977,837. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 14.87 and a beta of 1.52. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average price of $76.11 and a two-hundred day moving average price of $83.13.
Brunswick (NYSE:BC – Get Free Report) last posted its 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). Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the firm posted $2.35 earnings per share. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, equities analysts predict that Brunswick will post 5.25 earnings per share for the current year.
Brunswick Dividend Announcement
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on BC shares. Robert W. Baird dropped their price target on Brunswick from $95.00 to $93.00 and set an outperform rating for the company in a research report on Friday. BNP Paribas reaffirmed a neutral rating and set a $82.00 target price (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Morgan Stanley lowered their price objective on Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a report on Friday, April 26th. Jefferies Financial Group reissued a hold rating and issued a $70.00 price objective (down from $115.00) on shares of Brunswick in a report on Friday. Finally, B. Riley lowered their target price on Brunswick from $108.00 to $97.00 and set a buy rating for the company in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Brunswick has a consensus rating of Moderate Buy and an average target price of $88.57.
View Our Latest Stock Analysis on Brunswick
Insiders Place Their Bets
In related news, Director Nancy E. Cooper sold 357 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the sale, the director now directly owns 23,211 shares in the company, valued at approximately $1,864,771.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Brunswick news, VP Brenna Preisser sold 1,225 shares of Brunswick stock in a transaction on Thursday, May 9th. The shares were 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 directly owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The transaction 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 business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the sale, the director now directly 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. Insiders own 0.81% of the company’s stock.
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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