Brunswick (NYSE:BC) Releases FY24 Earnings Guidance

Brunswick (NYSE:BC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of ~$4.50 for the period, compared to the consensus earnings per share estimate of $5.23. The company issued revenue guidance of $5.1-5.2 billion, compared to the consensus revenue estimate of $5.30 billion. Brunswick also updated its FY 2024 guidance to 4.500-4.500 EPS.

Analyst Upgrades and Downgrades

BC has been the topic of a number of research reports. Truist Financial cut their price objective on Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Roth Mkm reissued a “buy” rating and set a $94.00 price target on shares of Brunswick in a research report on Thursday, July 25th. Citigroup raised their price objective on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Stifel Nicolaus cut their target price on Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.23.

Brunswick Price Performance

NYSE BC opened at $77.01 on Thursday. The company has a 50 day simple moving average of $80.14 and a 200-day simple moving average of $79.27. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 14.31 and a beta of 1.51. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75.

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

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 annualized dividend and a yield of 2.18%. Brunswick’s payout ratio is presently 31.23%.

Insiders Place Their Bets

In other news, Director Nancy E. Cooper sold 358 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $29,119.72. Following the sale, the director now directly owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.81% of the company’s stock.

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.