Brunswick Co. (NYSE:BC) Declares $0.42 Quarterly Dividend

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Tuesday, October 15th, Zacks reports. Stockholders of record on Wednesday, November 20th will be given a dividend of 0.42 per share on Friday, December 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, November 20th.

Brunswick has increased its dividend payment by an average of 17.4% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Brunswick has a dividend payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Brunswick to earn $6.31 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 26.6%.

Brunswick Price Performance

NYSE BC opened at $83.36 on Wednesday. The company has a market cap of $5.63 billion, a P/E ratio of 15.49 and a beta of 1.51. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. 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 company has a fifty day simple moving average of $79.34 and a 200 day simple moving average of $79.70.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.35 earnings per share. On average, sell-side analysts predict that Brunswick will post 5.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BC shares. Jefferies Financial Group restated a “hold” rating and set a $70.00 price objective (down previously from $115.00) on shares of Brunswick in a report on Friday, July 26th. Robert W. Baird cut their target price on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. JPMorgan Chase & Co. decreased their price objective on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Truist Financial lowered their target price on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $100.00 price target on shares of Brunswick in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Brunswick currently has an average rating of “Moderate Buy” and a consensus price target of $89.23.

Insider Activity

In related news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total transaction of $29,119.72. Following the completion of the transaction, the director now owns 23,877 shares in the company, valued at approximately $1,942,155.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is currently owned by company insiders.

Brunswick Company Profile

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.