Brunswick Corporation (NYSE:BC) – Stock analysts at SunTrust Banks dropped their Q3 2017 earnings estimates for shares of Brunswick Corporation in a note issued to investors on Thursday. SunTrust Banks analyst M. Swartz now anticipates that the company will post earnings per share of $0.97 for the quarter, down from their previous forecast of $1.07. SunTrust Banks also issued estimates for Brunswick Corporation’s Q4 2017 earnings at $0.85 EPS.
A number of other brokerages have also commented on BC. Jefferies Group LLC reaffirmed a “hold” rating and issued a $56.00 price objective on shares of Brunswick Corporation in a report on Friday, July 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Brunswick Corporation in a report on Thursday, July 13th. Stifel Nicolaus upped their price objective on Brunswick Corporation from $66.00 to $68.00 and gave the company a “buy” rating in a report on Friday, July 14th. Zacks Investment Research raised Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Thursday, June 29th. Finally, BidaskClub raised Brunswick Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $65.82.
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Brunswick Corporation (NYSE:BC) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.02. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $1.17 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, August 18th. Brunswick Corporation’s dividend payout ratio (DPR) is currently 20.95%.
In related news, insider John C. Pfeifer sold 2,346 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $58.26, for a total value of $136,677.96. Following the sale, the insider now directly owns 44,488 shares of the company’s stock, valued at $2,591,870.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark D. Schwabero sold 2,738 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $63.72, for a total value of $174,465.36. Following the completion of the sale, the chairman now directly owns 219,783 shares in the company, valued at $14,004,572.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,785 shares of company stock worth $3,395,646. 1.00% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Somerset Trust Co raised its stake in Brunswick Corporation by 0.4% in the second quarter. Somerset Trust Co now owns 9,309 shares of the company’s stock valued at $584,000 after buying an additional 39 shares during the period. World Asset Management Inc raised its stake in Brunswick Corporation by 3.0% in the second quarter. World Asset Management Inc now owns 6,361 shares of the company’s stock valued at $399,000 after buying an additional 183 shares during the period. Cornerstone Financial Partners LLC raised its stake in Brunswick Corporation by 1.8% in the first quarter. Cornerstone Financial Partners LLC now owns 10,586 shares of the company’s stock valued at $647,000 after buying an additional 189 shares during the period. Tdam USA Inc. raised its stake in Brunswick Corporation by 0.5% in the first quarter. Tdam USA Inc. now owns 38,490 shares of the company’s stock valued at $2,356,000 after buying an additional 195 shares during the period. Finally, Capstone Asset Management Co. raised its stake in Brunswick Corporation by 3.8% in the first quarter. Capstone Asset Management Co. now owns 7,452 shares of the company’s stock valued at $456,000 after buying an additional 270 shares during the period. 99.69% of the stock is currently owned by institutional investors and hedge funds.
Brunswick Corporation Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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