Brunswick Co. (NYSE:BC) Plans $0.42 Quarterly Dividend

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.42 per share on Friday, June 14th. This represents a $1.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, May 10th.

Brunswick has increased its dividend by an average of 17.4% annually over the last three years and has raised its dividend annually for the last 11 consecutive years.

Brunswick Price Performance

Shares of NYSE BC opened at $81.69 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16. The firm’s 50-day moving average price is $88.18 and its 200-day moving average price is $85.30. The firm has a market capitalization of $5.52 billion, a P/E ratio of 15.18 and a beta of 1.60. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68.

Brunswick (NYSE:BC) last posted its 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). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The company’s revenue was down 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 earnings per share. Equities research analysts anticipate that Brunswick will post 7.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley decreased 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 report on Friday, April 26th. B. Riley raised 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 research report on Tuesday, February 20th. Roth Mkm reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a research report on Thursday, April 25th. Stifel Nicolaus upped their price objective on shares of Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Truist Financial reduced their price objective on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brunswick presently has a consensus rating of “Moderate Buy” and an average target price of $92.83.

Insider Activity at Brunswick

In related news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the sale, the director now directly owns 23,211 shares in the company, valued at approximately $1,864,771.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 35,176 shares in the company, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,053 shares of company stock worth $4,602,880. 0.81% of the stock is owned by corporate 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.