Brunswick (NYSE:BC) Issues Earnings Results

Brunswick (NYSE:BC) announced its quarterly earnings data on Thursday. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01), Briefing.com reports. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm posted $2.57 EPS. Brunswick’s revenue for the quarter was down 21.7% compared to the same quarter last year.

Brunswick Trading Up 1.4 %

BC traded up $1.08 during trading on Friday, hitting $81.08. The company’s stock had a trading volume of 682,420 shares, compared to its average volume of 752,359. The firm’s 50 day moving average price is $89.13 and its 200-day moving average price is $84.77. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.59. The stock has a market cap of $5.58 billion, a PE ratio of 15.07 and a beta of 1.56. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio is presently 31.23%.

Insider Buying and Selling 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 value of $526,960.02. Following the completion of the transaction, the vice president now directly owns 35,176 shares in the company, valued at approximately $2,973,427.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 directly owns 272,626 shares in the company, valued at approximately $23,748,450.86. The transaction was disclosed in a legal filing with the SEC, which is available at 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 owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last three months, insiders sold 52,696 shares of company stock worth $4,574,199. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

BC has been the topic of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a report on Thursday. DA Davidson reissued a “neutral” rating and set a $77.00 price target on shares of Brunswick in a research note on Friday, March 15th. Truist Financial decreased their price target on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Morgan Stanley decreased their price target on Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, BNP Paribas reissued a “neutral” rating and set a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.83.

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.