Brunswick (NYSE:BC – Get Free Report) issued an update on its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $7.00-$8.00 for the period, compared to the consensus earnings per share estimate of $7.38. The company issued revenue guidance of $6.0-$6.2 billion, compared to the consensus revenue estimate of $6.03 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.
Analyst Ratings Changes
A number of research firms have recently weighed in on BC. Truist Financial lowered their price target on shares of Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a report on Friday, February 2nd. Morgan Stanley lowered their target price on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research note on Friday. B. Riley raised Brunswick from a neutral rating to a buy rating and upped their price target for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. BNP Paribas reissued a neutral rating and issued a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Finally, DA Davidson reiterated a neutral rating and issued a $77.00 target price on shares of Brunswick in a research note on Friday, March 15th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $92.83.
Check Out Our Latest Stock Report on Brunswick
Brunswick Stock Performance
Brunswick (NYSE:BC – Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The company’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same period last year, the business earned $2.57 EPS. As a group, research analysts predict that Brunswick will post 7.5 earnings per share for the current fiscal year.
Brunswick Increases Dividend
The business 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. This represents a $1.68 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, February 23rd. This is a boost from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s payout ratio is 28.24%.
Insider Transactions at Brunswick
In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the sale, the vice president now directly owns 35,176 shares in the company, valued at approximately $2,973,427.28. The disclosure for this sale can be found here. Insiders have sold 52,696 shares of company stock worth $4,574,199 over the last quarter. 0.81% of the stock is currently owned by 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.
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