Jefferies Financial Group Analysts Cut Earnings Estimates for Brunswick Co. (NYSE:BC)

Brunswick Co. (NYSE:BC – Get Rating) – Equities research analysts at Jefferies Financial Group decreased their Q1 2023 earnings per share (EPS) estimates for Brunswick in a note issued to investors on Monday, January 23rd. Jefferies Financial Group analyst A. Glaessgen now forecasts that the company will post earnings per share of $2.70 for the quarter, down from their previous forecast of $2.84. Jefferies Financial Group has a “Buy” rating and a $100.00 price target on the stock. The consensus estimate for Brunswick’s current full-year earnings is $10.01 per share. Jefferies Financial Group also issued estimates for Brunswick’s Q2 2023 earnings at $3.15 EPS, Q3 2023 earnings at $2.75 EPS, Q4 2023 earnings at $1.98 EPS and FY2023 earnings at $10.60 EPS.

Brunswick (NYSE:BC – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.05. Brunswick had a return on equity of 36.52% and a net margin of 9.56%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.77 billion.

BC has been the topic of several other reports. Raymond James reduced their price objective on Brunswick from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. StockNews.com upgraded Brunswick from a “hold” rating to a “buy” rating in a research note on Wednesday, January 18th. Robert W. Baird cut their target price on Brunswick from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Truist Financial raised their target price on Brunswick from $90.00 to $95.00 in a research note on Friday, January 6th. Finally, JPMorgan Chase & Co. cut their target price on Brunswick from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.00.

Brunswick Stock Performance

Shares of BC opened at $80.17 on Wednesday. The business’s fifty day moving average price is $74.03 and its 200 day moving average price is $73.75. Brunswick has a 12-month low of $61.89 and a 12-month high of $98.49. The stock has a market capitalization of $5.81 billion, a PE ratio of 9.61 and a beta of 1.54. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.88 and a quick ratio of 0.84.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Savant Capital LLC grew its holdings in Brunswick by 2.2% during the second quarter. Savant Capital LLC now owns 6,136 shares of the company’s stock worth $401,000 after acquiring an additional 133 shares during the period. Bridgewater Advisors Inc. boosted its position in shares of Brunswick by 1.0% in the 2nd quarter. Bridgewater Advisors Inc. now owns 14,403 shares of the company’s stock valued at $942,000 after purchasing an additional 149 shares during the period. Citizens Financial Group Inc RI boosted its position in shares of Brunswick by 3.1% in the 2nd quarter. Citizens Financial Group Inc RI now owns 4,945 shares of the company’s stock valued at $323,000 after purchasing an additional 149 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Brunswick by 1.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 12,424 shares of the company’s stock valued at $814,000 after purchasing an additional 159 shares during the period. Finally, US Bancorp DE boosted its position in shares of Brunswick by 1.9% in the 3rd quarter. US Bancorp DE now owns 8,629 shares of the company’s stock valued at $565,000 after purchasing an additional 159 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Brunswick Company Profile

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Brunswick Corp. engages in the design, manufacture, and marketing of recreational marine products, including marine engines, boats, and parts and accessories for those products. It operates through the following segments: Propulsion, Parts and Accessories, Boat, and Corporate/Other. The Propulsion segment manufactures a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, propellers, and rigging parts and accessories.