Brunswick (NYSE:BC - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of ~$4.50 for the period, compared to the consensus EPS estimate of $5.23. The company issued revenue guidance of $5.1-5.2 billion, compared to the consensus revenue estimate of $5.30 billion. Brunswick also updated its FY 2024 guidance to 4.500-4.500 EPS.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. B. Riley lowered their price objective on shares of Brunswick from $108.00 to $97.00 and set a "buy" rating on the stock in a research note on Wednesday, July 10th. Roth Mkm restated a "buy" rating and set a $94.00 target price on shares of Brunswick in a report on Thursday, July 25th. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 target price (down from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Benchmark reiterated a "buy" rating and issued a $100.00 target price on shares of Brunswick in a research report on Friday, July 26th. Finally, Truist Financial lowered their price objective on Brunswick from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $89.23.
Read Our Latest Research Report on BC
Brunswick Stock Up 3.9 %
Shares of NYSE:BC traded up $2.97 during midday trading on Thursday, reaching $79.99. The company had a trading volume of 1,080,802 shares, compared to its average volume of 716,431. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68. The stock has a market cap of $5.40 billion, a PE ratio of 14.87 and a beta of 1.51. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. The business's 50 day moving average price is $80.20 and its 200 day moving average price is $79.27.
Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The business's quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 earnings per share. Research analysts forecast that Brunswick will post 5.26 EPS for the current fiscal year.
Brunswick Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick's payout ratio is presently 31.23%.
Insider Buying and Selling
In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the company's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the sale, the director now owns 23,877 shares in the company, valued at approximately $1,942,155.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.81% of the stock is owned by corporate insiders.
About Brunswick
(
Get Free Report)
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.
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