Brunswick (NYSE:BC) Releases Q2 2024 Earnings Guidance

Brunswick (NYSE:BC) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 2.040. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James lowered Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. B. Riley upgraded Brunswick from a neutral rating to a buy rating and increased their price objective for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. DA Davidson reiterated a neutral rating and set a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. Stifel Nicolaus increased their price objective on Brunswick from $88.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, January 17th. Finally, BNP Paribas restated a neutral rating and set a $82.00 target price (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $92.08.

Brunswick Stock Down 6.8 %

NYSE:BC traded down $5.85 during trading hours on Thursday, reaching $80.28. 484,338 shares of the company traded hands, compared to its average volume of 737,999. The business’s 50-day moving average price is $89.30 and its two-hundred day moving average price is $84.79. The stock has a market capitalization of $5.52 billion, a P/E ratio of 13.42 and a beta of 1.56. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $1.99 EPS. The firm’s quarterly revenue was down 14.0% compared to the same quarter last year. Analysts predict that Brunswick will post 7.5 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, February 23rd. This is a boost from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio is 28.24%.

Insider Activity at Brunswick

In related news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 272,626 shares in the company, valued at $23,748,450.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 272,626 shares in the company, valued at $23,748,450.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John G. Buelow sold 2,426 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $87.12, for a total value of $211,353.12. Following the sale, the executive vice president now directly owns 14,199 shares of the company’s stock, valued at approximately $1,237,016.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is 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.