Brunswick (NYSE:BC) Releases Q3 Earnings Guidance

Brunswick (NYSE:BC) 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) 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

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

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.

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.