Brunswick Co. (NYSE:BC) – Equities researchers at Wedbush lowered their Q1 2018 earnings estimates for shares of Brunswick in a report issued on Friday, April 20th. Wedbush analyst J. Hardiman now forecasts that the company will post earnings per share of $0.98 for the quarter, down from their previous forecast of $0.99. Wedbush has a “Positive” rating and a $60.91 price target on the stock. Wedbush also issued estimates for Brunswick’s FY2019 earnings at $5.17 EPS.
Several other research firms have also recently weighed in on BC. Zacks Investment Research cut Brunswick from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. KeyCorp reiterated an “overweight” rating on shares of Brunswick in a research report on Friday, March 2nd. CL King upgraded Brunswick from a “neutral” rating to a “buy” rating in a research report on Monday, March 5th. SunTrust Banks increased their price objective on Brunswick to $78.00 and gave the stock a “buy” rating in a research report on Monday, March 5th. Finally, Imperial Capital reiterated an “outperform” rating and set a $78.00 price objective (up previously from $70.00) on shares of Brunswick in a research report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. Brunswick has an average rating of “Buy” and an average target price of $69.66.
Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.13 billion. Brunswick had a return on equity of 22.52% and a net margin of 3.09%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS.
In related news, VP Christopher F. Dekker sold 3,100 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $58.84, for a total value of $182,404.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its position in Brunswick by 3.9% in the fourth quarter. Rhumbline Advisers now owns 205,423 shares of the company’s stock valued at $11,343,000 after acquiring an additional 7,755 shares during the last quarter. Elkfork Partners LLC bought a new position in Brunswick in the fourth quarter valued at about $430,000. State of Alaska Department of Revenue grew its position in Brunswick by 91.9% in the fourth quarter. State of Alaska Department of Revenue now owns 22,260 shares of the company’s stock valued at $1,228,000 after acquiring an additional 10,660 shares during the last quarter. Schroder Investment Management Group grew its position in Brunswick by 8.2% in the fourth quarter. Schroder Investment Management Group now owns 1,810,603 shares of the company’s stock valued at $99,981,000 after acquiring an additional 136,614 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Brunswick by 6.0% in the fourth quarter. California Public Employees Retirement System now owns 204,411 shares of the company’s stock valued at $11,288,000 after acquiring an additional 11,488 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.
Brunswick Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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