Brunswick (NYSE:BC) Hits New 52-Week Low - What's Next?

Shares of Brunswick Co. (NYSE:BC - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $55.40 and last traded at $55.54, with a volume of 1257379 shares traded. The stock had previously closed at $59.01.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BC. Benchmark reduced their price target on Brunswick from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, January 31st. B. Riley raised Brunswick to a "hold" rating in a research report on Wednesday, February 12th. Roth Mkm dropped their price target on Brunswick from $91.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Truist Financial dropped their price target on Brunswick from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Robert W. Baird set a $90.00 target price on Brunswick in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.62.

Brunswick Price Performance

The stock has a market capitalization of $3.81 billion, a P/E ratio of 30.47 and a beta of 1.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. The stock has a 50-day simple moving average of $65.32 and a 200 day simple moving average of $74.42.

Brunswick (NYSE:BC - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter last year, the business posted $1.45 EPS. On average, equities analysts forecast that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, February 24th. This is an increase from Brunswick's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 2.97%. Brunswick's dividend payout ratio (DPR) is 90.53%.

Insider Activity

In other news, Director Nancy E. Cooper sold 433 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total transaction of $28,426.45. Following the completion of the sale, the director now owns 25,361 shares in the company, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total transaction of $215,988.57. Following the completion of the transaction, the senior vice president now directly owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. The trade was a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brunswick

A number of hedge funds have recently modified their holdings of BC. Armstrong Advisory Group Inc. bought a new stake in Brunswick during the fourth quarter worth about $39,000. Financial Perspectives Inc bought a new stake in Brunswick during the fourth quarter worth about $42,000. Quarry LP bought a new stake in Brunswick during the fourth quarter worth about $45,000. Avior Wealth Management LLC boosted its stake in Brunswick by 1,073.7% during the third quarter. Avior Wealth Management LLC now owns 669 shares of the company's stock worth $56,000 after acquiring an additional 612 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Brunswick by 669.0% in the third quarter. Covestor Ltd now owns 969 shares of the company's stock worth $81,000 after buying an additional 843 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

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.