Brunswick (NYSE:BC) Releases FY 2024 Earnings Guidance

Brunswick (NYSE:BC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 7.000-8.000 for the period, compared to the consensus estimate of 7.420. The company issued revenue guidance of $6.0 billion-$6.2 billion, compared to the consensus revenue estimate of $6.0 billion. Brunswick also updated its FY24 guidance to $7.00-$8.00 EPS.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BNP Paribas reissued a neutral rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. DA Davidson reiterated a neutral rating and set a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. B. Riley upgraded shares of Brunswick from a neutral rating to a buy rating and upped their price objective for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Raymond James downgraded shares of Brunswick from an outperform rating to a market perform rating in a report on Thursday, January 4th. Finally, Roth Mkm reaffirmed a buy rating and issued a $94.00 price objective on shares of Brunswick in a research note on Thursday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $92.83.

Brunswick Stock Up 1.3 %

Shares of BC traded up $1.05 during midday trading on Friday, hitting $81.05. The company had a trading volume of 682,385 shares, compared to its average volume of 754,562. The company’s 50-day simple moving average is $89.13 and its 200-day simple moving average is $84.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.59 and a current ratio of 1.43. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The firm has a market capitalization of $5.58 billion, a P/E ratio of 13.62 and a beta of 1.56.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm earned $2.57 EPS. The company’s revenue was down 21.7% on a year-over-year basis. As a group, sell-side analysts expect that Brunswick will post 7.5 EPS for the current year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.42 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio is presently 28.24%.

Insider Buying and Selling

In related news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the sale, the chief executive officer now directly owns 272,626 shares in the company, valued at approximately $23,748,450.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Brunswick news, CFO Ryan M. Gwillim sold 9,036 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.10, for a total value of $787,035.60. Following the completion of the sale, the chief financial officer now owns 28,966 shares in the company, valued at $2,522,938.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares in the company, valued at $23,748,450.86. The disclosure for this sale can be found here. Insiders sold a total of 52,696 shares of company stock worth $4,574,199 over the last 90 days. 0.81% of the stock is owned by insiders.

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.