SunTrust Banks, Inc. Reaffirms Buy Rating for Brunswick Corporation (BC)

SunTrust Banks, Inc. reiterated their buy rating on shares of Brunswick Corporation (NYSE:BC) in a research note issued to investors on Friday. SunTrust Banks, Inc. currently has a $62.00 target price on the stock. SunTrust Banks also issued estimates for Brunswick Corporation’s FY2017 earnings at $3.85 EPS, Q1 2018 earnings at $0.83 EPS, Q2 2018 earnings at $1.48 EPS, Q3 2018 earnings at $1.12 EPS, Q4 2018 earnings at $0.92 EPS, FY2018 earnings at $4.34 EPS and FY2019 earnings at $4.94 EPS.

BC has been the subject of several other reports. Forward View set a $60.00 price target on Brunswick Corporation and gave the company a hold rating in a report on Sunday, July 30th. BidaskClub cut shares of Brunswick Corporation from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Zacks Investment Research cut shares of Brunswick Corporation from a hold rating to a sell rating in a research report on Monday, July 24th. Royal Bank Of Canada reissued a buy rating and issued a $65.00 price objective on shares of Brunswick Corporation in a research report on Wednesday, July 12th. Finally, Northcoast Research cut shares of Brunswick Corporation from a buy rating to a neutral rating in a research report on Monday, July 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. Brunswick Corporation has an average rating of Buy and a consensus target price of $64.36.

Brunswick Corporation (NYSE:BC) opened at 50.00 on Friday. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 15.86 and a beta of 1.85. The company has a 50-day moving average price of $55.71 and a 200-day moving average price of $57.11. Brunswick Corporation has a 12-month low of $42.02 and a 12-month high of $63.82.

Brunswick Corporation (NYSE:BC) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.09). Brunswick Corporation had a net margin of 5.93% and a return on equity of 22.71%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that Brunswick Corporation will post $3.98 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 21st will be given a dividend of $0.19 per share. This is a boost from Brunswick Corporation’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, November 20th. This represents a $0.76 annualized dividend and a dividend yield of 1.52%. Brunswick Corporation’s dividend payout ratio (DPR) is presently 21.29%.

Several hedge funds have recently modified their holdings of the company. Somerset Trust Co lifted its position in shares of Brunswick Corporation by 0.4% during the second quarter. Somerset Trust Co now owns 9,309 shares of the company’s stock worth $584,000 after purchasing an additional 39 shares during the last quarter. Aspen Investment Management Inc lifted its position in shares of Brunswick Corporation by 0.9% during the second quarter. Aspen Investment Management Inc now owns 5,420 shares of the company’s stock worth $340,000 after purchasing an additional 50 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Brunswick Corporation by 2.7% during the second quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock worth $202,000 after purchasing an additional 87 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Brunswick Corporation by 1.4% during the second quarter. Teacher Retirement System of Texas now owns 7,180 shares of the company’s stock worth $450,000 after purchasing an additional 98 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Brunswick Corporation by 2.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,536 shares of the company’s stock worth $285,000 after purchasing an additional 106 shares during the last quarter. 93.65% of the stock is currently owned by institutional investors and hedge funds.

About Brunswick Corporation

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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